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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Tech and healthcare boost Wall Street www.bbc.com

(Closed): US stocks shook off early losses to close higher on Wednesday led by gains in tech and health care.
The Dow Jones rose 78 points, or 0.44%, to 17,918.62.
The wider S&P 500 index was up 11.18 points to 2,099.73, while the tech-focused Nasdaq climbed 36.26 points to 4,859.16.
Data from the Institute for Supply Management showed the US services sector, which accounts for two-thirds of the US economy, picked up in June.
The US trade deficit however increased by 10% as the stronger dollar led to decreasing exports.
Pharmaceutical companies led the market gains. Horizon Pharma climbed 4.7%, while Progenics Pharmaceuticals was up 9.3%.
Biotech firms AbbVie and Biogen each rose 2.3% after European regulators approved a new multiple sclerosis drug.
Tech firms also had a strong day.
Facebook's shares climbed 2.4%. Google's parent company Alphabet was up 0.6%.

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Kremlin Eyes State Alcohol Monopoly with $88M Deal www.themoscowtimes.com

Russia's state-owned alcohol producer Rosspirtprom has acquired eight new distilleries in a deal worth 5.7 billion rubles ($88 million), the Vedomosti newspaper reported Wednesday.

The purchase included some of the largest production facilities in Russia, all of which previously belonged to businessman Valery Yakovlev. The deal boosts Rosspirtprom domestic market share to 61 percent, Vedomosti reported.

Vadim Dobroz, the director of the Research Center for Federal and Regional Alcohol Markets, told Vedomosti that the purchases hinted again at possible state plans to create an alcohol monopoly. “In reality, there was only ever one buyer [for these factories],” he said. “In such a situation, any money is just a gift.”

Deputy Prime Minister Alexander Khloponin announced last year that the monopoly on the sale of alcohol was “a very important policy” and one that the government should “pursue in the next year and put under control,” Vedomosti reported.

The two most expensive factories bought by Rosspirtprom were for Tula's Zernoprodukt and Kabardino-Balkaria's Premium, costing 1.12 billion rubles ($17 million) and 1.04 billion rubles ($16 million.) Other new acquisitions included factories in Kursk, Novosibirsk, and North Ossetia.

Domestic vodka production has recently surged by up percent as the government began cracking down on the production and sale of counterfeit alcohol in the past year. Foreign alcohol imports are also threatened by a shortage of mandatory, state-produced excise stamps.

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Fifa World Cup tickets breach $1,000 for first time www.bbc.com

Some tickets for the World Cup final in Moscow in 2018 will cost more than $1,000 (£775) for the first time, governing body Fifa has revealed.
The most expensive ticket for the 2018 final will be $1,100, up from $990 for the 2014 final in Rio de Janeiro. The other tickets will cost $455 and $710.
However, Russian residents get significantly discounted tickets.
Ticket sales do not begin until next summer and passes for first round matches start at $105.
That is an increase of about 16% and does not include the opening game.
"We wanted to make sure that we priced tickets fairly to make the events accessible to as many people as possible," Fifa Secretary General Fatma Samoura said.
"We therefore conducted thorough market research and have priced the tickets accordingly."

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China invests $2.4bn in Russian Far East www.rt.com

Chinese companies have invested 16 billion yuan ($2.4 billion) in development projects in Russia’s Far East, according to the regional development minister Aleksandr Galushka.

“The volume of investments to the region has already reached 1.1 trillion rubles ($17.1 billion) as a result of new Far East development mechanisms, such as the Advanced Development Territories [ADT – Ed.], the Vladivostok free port area, the Far East Development Fund and targeted infrastructural project support. Those mechanisms are popular with Chinese businesses who had already invested 163 billion rubles ($2.4 billion),” Galushka said in a ministry statement.

According to the minister, Chinese firms have invested in a cement plant and plan investing in an oil refinery in the Amur Region, as well as working in the Sakha Republic and Primorsky Territory ADTs. The Chinese are key investors in the new Amuro-Khinganskaya ADT in the Jewish Autonomous Region, providing some 10 billion rubles ($157 million) in funds.

Over seven billion rubles ($109 million) has been invested in a timber plant in the Khabarovsk region. About ten projects worth 80 billion rubles ($1.2 billion) generated by a joint Russian-Chinese agro-industrial development fund are ready for investment, and will be presented at the Eastern Economic Forum in September, Galushka said.

An unnamed source at the Russian Far East Development Ministry told Sputnik news agency in May that more than 31 agreements had been signed with Chinese companies.

Russian and Chinese firms have a number of projects in Russia’s Far East in energy, trade and cross-border tourism. The biggest of them is the Power of Siberia pipeline which is to deliver 38 billion cubic meters of Russian natural gas to China annually. Russian Prime Minister Dmitry Medvedev has described the pipeline the world’s biggest infrastructure project.

Cooperation in developing the sparsely populated but resource rich territory is one of the major points of interest between the two countries.

Japan has also expressed interest in developing Russia’s Far East. Tokyo is planning to create a $110 billion fund to bankroll infrastructure projects with some of the money invested in Russia's Pacific region.

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Former MP Su.Batbold becomes UB Mayor www.montsame.mn

Ulaanbaatar /MONTSAME/ The first session of the Citizens’ Representatives Khural (council) of the capital city of the 7th convocation, considered the appointment of the new Mayor of Ulaanbaatar. Majority of representatives backed candidature of Su.Batbold, a former MP, for the next governor of Mongolian Capital and Mayor of Ulaanbaatar.

The conclusion will be submitted to the Prime Minister, who is to confirm his candidature.

Ts.Sandui was elected the chairman of the Khural on the same day.

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34 heads of state and government confirm attendance in ASEM Summit www.montsame.mn

Ulaanbaatar /MONTSAME/ Presidents and prime ministers of 34 countries have confirmed their attendance in the 11th ASEM Summit to be held in Ulaanbaatar on July 15 and 16, informed the Minister of Foreign Affairs L.Purevsuren at the weekly press conference “Information Hour” on Wednesday.

This is a record number of heads of state and government Mongolia has ever hosted. Other member countries are represented by foreign ministers and special delegates. On July 12-14, 4-5 presidents and premiers are to pay official visits to Mongolia.

The summit, coinciding with the 20th anniversary of the Asia-Europe Meeting itself, is themed “Partnership for the Future through Connectivity”.

Out of nine side events anticipating the summit, four events were complete with ongoing fifth event – the 7th Asia-Europe People’s Forum. The next side events are the Asia-Europe Editors’ Forum and the Model ASEM (Youth Forum), to reside between July 7 and 10, and ASEM Senior Officials' Meeting (SOM) and 15th Asia-Europe Business Forum (AEBF15), to take place between July 12 and 14.

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Indian steel output rebounds after import curbs www.asia.nikkei.com

MUMBAI -- The Indian government's measures to combat cheap steel imports appear to be bearing fruit, with domestic steelmakers Tata Steel, JSW Steel and Essar Steel all reporting significant production increases in the first quarter of fiscal 2017.

The recovery is helpful to Indian steel companies burdened with high debt and low margins.

Indian operations of Tata Steel, which is divesting itself of money-losing operations in the U.K., recorded 8% growth in crude steel production to 2.5 million tons for the April-June quarter, with sales up 6% at 2.35 million tons. Automotive steel production hit a record 379,000 tons, the company said.

Integrated steel producer Essar Steel India reported 48% growth in flat-steel production in the first quarter at 1.22 million tons, compared with 824,000 tons in the same period last year. Pellet production grew 58%, from 1.28 million tons to 2.02 million tons.

Essar Steel believes that the upturn since March is due to minimum import pricing introduced for steel in February and quality controls applied by the Bureau of Indian Standards.

The improved volumes pushed Essar's operating margin to around 20% from 5%, which translates to an improvement of 6,000 rupees to 7,000 rupees per ton. "Following these measures by the Government of India, Chinese imports of steel at predatory prices [have] been contained, leading to better sales realization in the Indian market," Essar said.

JSW Steel has not yet released June production figures but registered 16% growth in crude steel output to 1.35 million tons in May. Demand for flat and long products grew 7% and 22% on the year.

Indian steelmakers had been lobbying against cheap imports, particularly from economically ailing China. India's iron and steel industry owes an estimated 3 trillion rupees ($44.4 billion) to banks. Tata Steel alone carries $12 billion in debt as a result of its outright purchase in 2007 of all of Corus Group's steel operations in Europe, the global economic slowdown, and cheap steel imports in Europe, particularly from China.

In February, Prime Minister Narendra Modi's government imposed minimum import prices ranging from $341 to $752 per ton for 173 types of steel. There is talk of extending them beyond August, when they are due to expire.

Other anti-dumping measures were imposed last year to regulate imports from such countries as China, South Korea and Japan. India's inbound steel shipments fell 34.2% to 654,000 tons in April from 994,000 tons in March, according to the latest official data. Steel imports rose 29% in the nine months ended December, which preceded the curbs.

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Berlusconi: AC Milan sold to Chinese consortium www.bbc.com

Former Italian Prime Minister Silvio Berlusconi says he has sold the soccer club AC Milan to a Chinese consortium.
Berlusconi, who owns the Serie A team, made the remarks to local newspapers on Tuesday.
He said they will be paying at least €400m (£220m) over the next two years, which may value the club at up to €750m including debt.
"Milan has now embarked on this path towards China," he said without disclosing the identity of the buyers.
However other media outlets, citing their own sources, said the terms of the deal are still being finalised.
Berlusconi, 79, has served as prime minister four times but was convicted of tax fraud and bribery.
His family holding company Fininvest reportedly entered into exclusive talks with the Chinese investor group in May.
The consortium is looking to buy 80% of the club immediately before eventually taking over the remainder.
The deal could even result in the soccer club being listed in China, according to Reuters news agency.
Asian investors
AC Milan is one of Europe's most successful clubs but is seeking new capital to enable it to better compete against other well-funded rivals.
It posted a loss of €93.5m ($104m) last year.
Berlusconi came close to selling a majority stake in AC Milan to a Thai businessman last year but changed his mind.
Many European teams are now owned or bankrolled by wealthy Asian or Middle Eastern investors or companies.
Local rival Inter Milan was sold to Chinese electronics retailer Suning Commerce Group last month.
And last month Chinese businessman Dr Tony Xia completed his £76m takeover of Championship club Aston Villa.
Football is a popular sport in China and the government has pledged to develop its local industry to become a world "superpower."

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Apple remains top brand of China Mobile subscribers, but iPhone 6s not so hot www.chinadaily.com

Apple Inc remains the most popular smartphone brand in China, despite its recent poor performance in its second-largest market, a new report said.
 
The report, released by China Mobile Communications Corp, is based on the analysis of the world's largest telecom operator's roughly 800 million subscribers. This is the first time that China Mobile opened its big data report to public.
 
In May, about 15 percent of China Mobile's subscribers are using iPhones, which amounts to about 120 million users. Domestic brands Xiaomi Corp and Huawei Technologies Co Ltd rank alongside Samsung Electronics Co as the second-most popular brands, with each company accounting for 9 percent of subscribers.
 
When it comes to the fastest-growing handset makers, smaller local rival vivo Mobile Communication Technology Co Ltd prevailed thanks to its sprawling offline-retail channels in small cities. About 14 percent of China Mobile subscribers registered in the first five months of this year are using vivo's handsets.
 
James Yan, research director at Counterpoint Technology Market Research, said Apple's strong performance in this report is not a contradiction of its recent declining smartphone sales in China.
 
"Compared with the iPhone 6 series, which was a record-breaking hit, the iPhone 6S was far less popular, so its sales as a whole declined," Yan said. "But compared with some local players, the iPhone 6S still delivers a relatively good performance."
According to Yan, the iPhone 6S had a strong start in the first several months of this year, but the demand quickly died out once the replacement cycle was finished, given that iPhone 6S only has incremental improvements to iPhone 6.
 
Still, Apple is the brand with the highest consumer loyalty in China. Forty-five percent of Apple users choose to buy another iPhone when they replace their old handsets, far higher than the average of 18 percent among other brands.
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Russian oil exports set for a record 2016 www.rt.com

Russia has increased crude exports by almost five percent to 5.55 million barrels a day in the first half of the year compared to 2015. Analysts say exports may reach a record high this year.The Russian Energy Ministry says output last month grew by 1.14 percent from a year earlier to 10,843 million barrels a day, with increases every month since July 2014. The ministry is predicting a 4.5-4.9 percent growth this year.
 
“If production remains steady, then it will likely be a record year for exports,” said Christopher Haines, head of oil and gas at BMI Research, as cited by Bloomberg. “This should mean competition is strong, especially with Iran sending more oil into southern Europe.”
 
In April, Russian crude exports jumped nine percent to their highest level in sixteen months. Overall, the country exported 20.3 million tons of crude that month.
 
Crude exports from Russia continue to grow; the country became the world's leading oil and natural gas exporter last year, according to BP's annual statistical review of world energy. It has overtaken Saudi Arabia in crude exports, and retained the top spot in exports of natural gas.In 2015, Russia’s oil production reached a new post-Soviet high of 11 million barrels per day, with three-quarters of it going for export.
 
Low oil prices and a higher tax burden have made it more profitable for Russian companies to export oil rather than deliver it to local refineries. Increased oil production was another reason for the surge in exports.
 
In 2016, Gazprom Neft is expecting to produce more from the northernmost onshore oilfields in Russia – the Messoyakha fields – which could be as much as 470 million tons of oil and gas condensate.
 
Lukoil has started development drilling at the Filanovsky oilfield in the Caspian Sea. In the next 30 years, the company intends to invest at least $14 billion in the field that has recoverable oil reserves at 151.3 million tons and 26 billion cubic meters of natural gas.
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