1 RUSSIA & UNITED STATES CAN COMPETE & WORK TOGETHER IN ENERGY MARKET - PUTIN WWW.RT.COM PUBLISHED:2018/07/17      2 TESLA IS GETTING A CHINA FACTORY. THIS $4 BILLION STARTUP WILL BE WAITING WWW.BLOOMBERGTV.MN PUBLISHED:2018/07/17      3 HOW MINING TYCOONS ARE TRYING TO FOIL A BIG UK BRIBERY PROBE WWW.MINING.COM PUBLISHED:2018/07/17      4 MONGOLIA'S TOURISM REVENUE INCREASES BY 20 PERCENT WWW.NEWS.MN PUBLISHED:2018/07/16      5 WATER LEVELS OF MAJOR MONGOLIAN RIVERS EXCEED ALARM LINE WWW.XINHUANET.COM PUBLISHED:2018/07/16      6 CHINA SETS RECORD DAILY STEEL OUTPUT FOR THIRD MONTH IN A ROW WWW.REUTERS.COM PUBLISHED:2018/07/16      7 RUSSIAN RETAILERS, HOTELS EMERGE AS WORLD CUP WINNERS WWW.THEMOSCOWTIMES.COM PUBLISHED:2018/07/16      8 BIOGRAPHY OF TAVAN TOLGOI RESIDUAL COAL DEPOSITS WWW.ZGM.MN PUBLISHED:2018/07/16      9 NAGOYA BASHO LOSES LAST OF THREE YOKOZUNAS WWW.MONTSAME.MN PUBLISHED:2018/07/16      10 CHINA'S GDP HITS 6.7% IN Q2 OF 2018 WWW.CHINADAILY.COM.CN 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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Japan shares higher on PM Abe election victory www.bbc.com

Japanese shares have moved higher on Monday after Prime Minister Shinzo Abe's government claimed a major election victory over the weekend.
Mr Abe's party won in an election for the upper house of parliament, saying that voters backed his economic policies.
Tokyo's Nikkei 225 was 2.6% higher at 15,495.15 in Monday morning trade.
The strong performance was in spite of data showing machinery orders for the past month lower than expected.
Mr Abe said the election result was a vote of confidence on his economic policies, although he has admitted himself that his Abenomics, aimed at ending debilitating deflation, are only "half done".
"We were given approval for our mandate to powerfully pursue Abenomics. We would like to continue with our efforts to achieve what we have promised," he said.
Strong US lead
Investors also took a positive cue from US jobs data on Friday, which came in stronger than expected.
US shares had finished higher last week on the back of the optimistic data.
In Australia, shares were up in morning trade, 1.7% higher at 5,317.70 points.
Markets were also reacting to the country's Prime Minister Malcolm Turnbull declaring victory for his Conservative coalition in last week's closely fought general election.
South Korea's benchmark Kospi was also in line with the broader regional trend, trading 0.8% higher at 1,977.81 points.
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China warns on global economy and says G20 must lead www.bbc.com

China's commerce minister says the outlook for the global economy remains grim despite it having overcome the impact of the 2008 financial crisis.
Gao Hucheng said at a G20 meeting in Shanghai that major economies must lead the way in tackling problems, including slowing trade and sluggish growth.
To boost trade the G20 ministers, from the world's major economies, agreed to cut trade costs, increase policy co-ordination and enhance financing.
They also approved a trade growth plan.
"We agree that we need to do more to achieve our common objectives for global growth, stability and prosperity," the G20 ministers said in a statement.
Mr Gao said the international community now expected the G20 to show initiative and leadership in solving economic growth problems.
China's will host the main G20 summit later this year.
'Deep effects'
"In the past few years through our shared hard work, the global economy emerged from its previous low and is developing in a good direction,'' Mr Gao had said at the meeting held over the weekend.
He added however that "the deep effects of the global financial crisis can still be felt".
"The revival and growth of the global economy is still lacking in strength," Mr Gao said. "Low levels of global trade and investment have not recovered to their pre-financial crisis levels."
Mr Gao did not mention Brexit in his opening remarks at the meeting, but the vote by the UK to leave the EU has added to the global financial uncertainty.
In June the World Bank cut its forecast for the global economy in 2016 from 2.9% to 2.4%.
And in April the International Monetary Fund had cut its forecast to 3.2% from 3.4%.
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Russian Car Sales Decrease 14.1% in 2016 www.themoscowtimes.com

Sales of new passenger cars in Russia have fallen by 14.1 percent in the first six months of this year, compared to the same period last year, the Association of European Businesses (AEB) said in a press release.
 
Compared to 2015, sales of automobiles in the first six months of the year decreased by 110,291 units, with the total number of sales amounting to 672,140 units.
 
June saw a 12.5 percent decrease compared to June 2015, with 17,562 fewer units having been sold during the month, according to the AEB's Automobile Manufacturer's Committee.
 
The chairman of the committee, Joerg Schreiber, said, “June sales did little to improve the cumulative result of the market in the first half of the year. Total market volume continued to erode at double-digit pace, faster than anticipated at the beginning of the year.”
 
The AEB forecasts that overall, 2016 will see a 10.3 percent volume reduction in sales compared to 2015, expecting sales to pick up in the second half of the year.
 
Notably, foreign brands continue to perform well in Russia, particularly American car maker Ford, whose sales in the first sixth months of 2016 saw a 51 percent increase from 2015, selling 20,678 units.
 
Three of the best-selling car models in Russia are foreign, with Hyundai's Solaris being the most sold car in Russia and models from KIA and Renault also in the top five.
 
Overall, the slowdown in the car market shows little signs of stopping, as sales continue to go down even after 2015, which saw an annual record-setting 36 percent reduction in Russian car sales.
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Russia set for record grain production in 2016 - UN www.rt.com

The UN’s Food and Agriculture Organization (FAO) has raised its forecast for this year’s global cereal production to over two billion tons, and is projecting a record harvest for Russia.
 
“This month’s upward revision rests on improved crop prospects in the EU, the Russian Federation (where a record crop is expected) and the United States, owing to favorable weather,” the FAO reported, adding that bigger harvests are also expected in China and India, while dry conditions dampened the outlook for Turkey.
 
The forecast for global production is 0.6 percent (or 15.3 million tons) higher than the 2015 estimate and above the FAO’s June projections.
 
According to the report, “world wheat production is now pegged at 732 million tons, 8 million tons higher than anticipated in June, but still slightly below the 2015 record.”
 
Forecasts of global rice production in 2016 have been increased by 0.8 million tons since last month to 495.2 million tons.
 
Russia produced almost 105 million tons of cereal last year and plans to increase production to over 111 million tons by 2017, according to the agriculture ministry.
 
The ministry is predicting grain production to grow by 25 percent over the next fifteen years to 130 million tons as a part of the strategic development of the cereals market.
 
The areas planted with grain are to be expanded, with cropped fields expected to increase to 49 million hectares (490,000 sq km) from the current 46 million.
 
The government expects to spend 2.9 trillion rubles ($38.2 billion) in the next 15 years with private investors providing another 3.1 trillion rubles ($40.8 billion).
 
Russian agriculture could become the country's second biggest export after energy, according to Agriculture Minister Aleksandr Tkachev. Last year, Russia's top exports were: oil at $90 billion; gas $40 billion; arms $15 billion; and agriculture $15 billion.
 
Russian Prime Minister Dmitry Medvedev said on Tuesday the country is gaining momentum as one of the world’s leading exporters of agricultural products.
 
"Russia is successfully regaining the status of a major supplier on the global food market,” Medvedev said, adding the government provides unprecedented state support for the agricultural sector.
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Hitachi, Japan Atomic Power to build UK reactors www3.nhk.or.jp

Japanese electronics maker Hitachi and Japan Atomic Power have agreed to work together in Britain's nuclear power plant business.
 
Executives at both companies said on Thursday that they hope the tie-up will help speed-up Hitachi's efforts in Britain.
 
Hitachi's British subsidiary has been using its leading-edge technology to develop 2 nuclear reactors.
 
Japan Atomic Power officials say they'll use their know-how to help Hitachi gain British government approval for the construction and operation of the reactors. They also expect to take part in the planning of the reactors' maintenance after they go into operation.
 
Japanese firms have been worried about their business in Britain since its recent vote to leave the European Union.
 
Hitachi and Japan Atomic Power hope to further accelerate the nuclear power plant business in Britain through their cooperation.
 
A Hitachi official notes uncertainties ahead, including exchange-rate effects. But he is expecting that the British government will proceed with the project as planned.
 
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China's forex reserves rise unexpectedly in June www.xinhuanet.com

BEIJING, July 7 (Xinhua) -- China's foreign exchange reserves increased 13.43 billion U.S. dollars in June from the previous month to 3.21 trillion U.S. dollars, central bank data showed on Thursday.

Market analysts expected June's data would have dipped by at least 20 billion U.S. dollars.

Bloomberg chief Asia economist Tom Orlik said that yuan weakness and the Brexit shock came too late in the month to drive substantial capital outflows.

Valuation effects might also have contributed to the increase, as June saw sharp appreciation of the yen and substantial depreciation of the pound, Orlik said.

"Assuming the yen has a heavier weight in China's reserves, that would have pushed up the headline figure," he said in a research note.

The rise in forex reserves last month showed that the foreign exchange market conditions were not as bad as people had imagined, said Guan Tao, researcher with the China Finance 40 Forum.

Chinese investment in foreign stocks and bonds had good yields, and Brexit did not bring panic to the market nor massive purchases of the U.S. dollar, Guan said.

International capital may flow back to emerging markets including China if the global forex market calms down with lower hedging demand, whereas the yuan will see greater fluctuation if market sentiment deteriorates, raising the pressure of capital outflow, Guan said.

China's reserves, the largest in the world, fell by 27.9 billion U.S. dollars to 3.19 trillion U.S. dollars in May, the lowest level in nearly five years.

China began to see a falling trend in its forex reserves in November 2015 due to concerns over a weak yuan and capital outflow, but the reserves returned to growth in March as fears eased amid signs of stabilizing economic growth.

Forex reserves denominated in Special Drawing Rights (SDR), an international reserve asset, rose by 16.16 billion SDRs to 2.29 trillion SDRs in June, the central bank data showed.

China's official gold reserves stood at 77.43 billion U.S. dollars in June, up from 70.48 billion U.S. dollars in May, according to the data.

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Value of Chilean copper exports at financial-crisis lows www.mining.com

New data shows the first six months of 2016 were tough for Chilean copper producers.

According to the number one copper producing country's central bank, the value of Chile's copper exports fell 16.1% in the first half, compared to H1 2015, on par with the financial crisis of 2009. Chile exported $13.4 billion worth of copper in H1, including $6.356 billion worth of copper cathodes and $5.805 billion of copper concentrate. Monthly copper exports dropped a whopping 28% to $2 billion, according to Platts.

The plunge in values of course reflects the slump in the copper price, which has halved from $10,190 a tonne in 2011 to a seven-year low of $4,318 in January. Platts quotes the Chilean Copper Commission predicting Thursday that the price will average $2.15 a pound this year compared to $2.57 in 2015.

However there is light at the end of the tunnel, with the big producers forecasting an end to the supply glut due to mine expansions not coming to fruition. That would put upward pressure on prices. Bloomberg quotes Freeport-McMoRan (NYSE:FCX), Codelco and BHP Billiton (ASX:BHP) all predicting a copper deficit, with Freeport saying it could happen as early as next year. The reason? Low prices have put a lid on mine expansion plans. Mine output has also fallen:

Global production exceeded demand in five of the past six years, partly because of slower growth in China, the biggest user, data by Bloomberg Intelligence show. Copper has tumbled more than 50 per cent on the London Metal Exchange from a record $10,190 a tonne in 2011, touching close to a seven-year low of $4,318 a tonne in January. Macquarie Group Ltd. last month cut its price forecasts by 4.1 per cent to $4,690 a tonne for this year and 9 per cent to $4,788 for 2017.

As a result, capital spending by 35 major producers will shrink to about $41-billion next year, down from $104-billion in 2013, and mine output last year tumbled by more than 20 per cent, company data compiled by Bloomberg Intelligence show. Even with a project pipeline with forecast capital expenditure of about $149.4-billion, according to the data, the mining industry faces challenges to deliver new supply in time to meet the deficit.
In Chile, copper output slipped 5.1 percent during the first half of 2016 to 2.302 million metric tons, according to Platts. Just this week however, an indication that Chile will be exporting more copper, with the announcement that BHP Billiton, the world’s biggest mining company, has committed to spend just under $200 million to get more copper out of its 57.5%-owned Escondida operation in Chile, the world's largest copper-producing mine.

The expansion of the Los Colorados concentrator will help offset declining grades at the mine and add incremental copper production to reach an average production of 1.2 million tonnes a year over the next decade, The Australian reported.

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Rio 2016 Olympic show to cost 'less than London' www.bbc.com

The chief executive of the company hired to stage the opening ceremony of the upcoming Rio Olympics has told the BBC the show will cost less than London's in 2012.
Antonio Abete adds he's 100% confident everything will go ahead as planned.
At a time of economic crisis in Brazil, they're doing it on a strict budget.
But his team are promising a spectacle that will be bigger and better than London 2012, which cost $40m (£31m), and was directed by Danny Boyle.
Mr Abete works for Filmmaster Events, and is answerable to the International Olympic Committee for delivering a show that will be watched by a global audience of around three billion people.
"The budget is completely different. We cannot say the real numbers, firstly because we are not allowed, but secondly because it's really difficult to know what the real number is.
"It's much less than London. It's because in Brazil everyone knows what the situation is, economically and politically. It's correct to invest money in the opening ceremony, but I think it's also correct to invest the right money.
"We are completely confident we can create an amazing show, without spending the huge amounts that the previous Olympic ceremonies had."
So, what will actually be in the opening ceremony?
As usual, the plan will be for national teams to arrive in the Maracanã stadium to the cheers of the world.
The creative directors are Brazilian filmmakers Fernando Meirelles and Daniela Thomas, with a cast of some 6,000 volunteers.
The internet is full of rumours of new technology - such as drones - being used, to be merged with samba and carnival themes to create an aerial display to remember. Antonio Abete gives a tight-lipped smile.
"Now you are asking me to tell you something that is secret, but I will tell you something. Usually the opening ceremony of the Olympic Games focuses on the culture and the history of the host country. In this case, we'll be different, because Brazil is an incredible country.
"In Brazil you cannot find only one culture, but more than one. Let me say, more than two, three or four. So, it will be a mix, and we will create a show, the biggest event in the world, not just Brazillian culture but world culture."
The secret will be out in less than a month, with the ceremony taking place on Friday the 5th of August.

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Russia Launches Modernized Soyuz Rocket to Space Station www.themoscowtimes.com

A Russian rocket carrying three astronauts to the International Space Station successfully took off from the Baikonur Cosmodrome on Thursday, the state-run TASS news agency reported.
The launch marked the first flight of a modernized version of the venerable Soyuz spacecraft that Russia has flown since the late 1960s.
Known as the Soyuz-MS, the new vessel features an all-digital control system, streamlined internal hardware, and more efficient solar panels. It is intended to be the final modification of the Soyuz spacecraft, and will be used until Russia fields its still-in-development Federation spacecraft in the 2020s.
The crew will take the scenic route to the International Space Station. While Soyuz missions in recent years have often taken a quick, six-hour route to the orbiting outpost, the new modification will take a more traditional two-day route.
The vessel is commanded by Russian cosmonaut Anatoly Ivanishin, Japanese astronaut Takuya Onishi, and NASA's Kate Rubins. Their Soyuz-MS spacecraft is expected to arrive at the station on Saturday.

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Ukraine extends ban on Russian imports through 2017 www.rt.com

The Ukrainian government has prolonged the sanctions on Russian imports until December 31, 2017.
 
The decision “has been prepared for ensuring Ukraine’s national security in response to Russia’s introduction of respective trade bans and restrictions against Ukraine,” said Ukrainian Deputy Prime Minister Stepan Kubiv at a government meeting.
 
The current ban would was due to expire on August 5 this year.
 
The embargoes have led to a 42 percent drop in trade between the two countries in the first quarter of the year, according to Kubiv. He added that Ukraine was still losing other markets due to the measures.
 
In December, President Putin signed a decree to suspend the free trade treaty with Ukraine, starting from January 1, 2016. Before Kiev signed the EU association agreement, Russia and Ukraine traded in accordance with the free trade agreement between CIS countries.
 
Putin said Kiev’s move to open its borders to the EU compromises Russian interests and economic security. Moscow is concerned that without a barrier, Ukraine could illegally supply embargoed European goods to Russia.
 
Two years ago, the Kremlin introduced a food embargo against countries that supported anti-Russian sanctions over the conflict in Ukraine. These include the EU, the US, Canada, Norway and Australia. Albania, Montenegro, Iceland, and Liechtenstein were included in Moscow’s sanction list in 2015.
 
The ban, which includes meat, fish and milk products, as well as fruit and vegetables, was recently extended through 2017.
 
Last week, Moscow prolonged restrictions on Ukrainian goods transported via Russia to Kazakhstan and extended them to neighboring Kyrgyzstan.
 
Kiev says Russia's move violates the rules of the World Trade Organization.
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