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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Seventh Model ASEM approaching www.montsame.mn

Ulaanbaatar /MONTSAME/ Model ASEM 2016, the 7th forum of youth, is commencing July 7 in Ulaanbaatar. Director of the Department of Administration, Strategy and Cooperation of the Mongolian Youth Union Ch.Khongorzul, Asia-Europe Foundation (ASEF) director for education Leonie Nagarajan and participant of the Model ASEM O.Myagmarsuren called a press briefing today at Montsame agency.
 
The forum is being organized by the ASEF and Mongolian Youth Union with support by the Ministry of Foreign Affairs of Mongolia. More than 100 international delegates from ASEM member states, and 50 excellent young people from Mongolia will take part in this action.
 
Most of the guests are arriving in Mongolia for the first time. Out of over 3,900 applicants to the 7th Model ASEM, only 100 has been granted permission. Mongolia has chosen its participants among 300 applicants.
 
The youth forum will address issues covering politics, economy and social and cultural relations.
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Some banks consider moving out of the City www3.nhk.or.jp

Many financial institutions operating in Britain are considering moving their bases out of the City of London, the country's financial hub, following the Brexit vote.
 
There are about 250 foreign financial institutions based in London, a location that allows them to do business freely in other EU member states.
 
Following the UK's decision to leave the EU, some major foreign banks have begun discussing whether to move their bases to other European cities such as Frankfurt or Paris.
 
The CEO of JPMorgan Chase in the United States has said in an e-mail to employees that the firm may need to change its organization and the location of its European base in the next few months.
 
Britain's HSBC is considering moving 1,000 employees from London to Paris.
 
Western media report that the US firm Morgan Stanley has set up a working group to discuss relocating its European base to another city in the region.
 
They also report that Britain's Barclays is considering the Irish capital, Dublin, as a possible relocation site.
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South Korea launches first Internet of Things network www.bbc.com

South Korea has launched its first commercial, low-cost Internet of Things (IoT) network aimed at making the country even more connected.
The network would allow smart devices to talk to each other via the network.
Phone carrier SK Telecom is behind the initiative, which uses technology that will allow it to reach 99% of the country's population.
Aside from South Korea, the Netherlands also has a nationwide IoT network.
There will be charges involved as users will have to subscribe to monthly price plans that range from 350 Korean won ($0.30, £0.20) to 2,000 won.
SK Telecom is investing up to 100 billion won by the end of next year to further develop the infrastructure, which it hopes will be a new source of revenue.
In a statement it said the price plans are "highly affordable" and cost one-tenth of its current LTE-based IoT services which will ease the cost burden of startups and small and medium enterprises.
The IoT can help appliances like fridges or printers tell its owners when it needs to be refilled, help customers locate lost smartphones and even monitor pets.
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Head of London's financial district to visit Japan www3.nhk.or.jp

The Lord Mayor of the City of London, the capital's financial district, says he will visit Japan next week to explain the effects of Brexit on Britain's main financial center.
 
After Britain's vote to leave the European Union, Japanese executives are wondering whether to relocate their operations in the City of London.
 
Jeffrey Evans told NHK on Monday that the UK's exit from the EU may cause uncertainties, but that the City is determined to remain a leading financial center.
 
Evans indicated that the City can stay competitive. He noted that the width and depth of what London can offer is considerable and it's not easy to move activities and businesses to other centers.
 
Evans plans to meet with top executives of Japanese financial institutions and corporations next week to ease their concerns.
 
He will also visit South Korea and Taiwan.
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Billionaire Prokhorov's company denies Russian assets sale www.rt.com

One of Russia's major private investment funds ONEXIM group, which is owned by tycoon Mikhail Prokhorov, has dismissed reports the fund is selling all of its Russian assets.
“We have made no decisions on this matter. The group has always been and will continue to be an important player in the Russian market, maintaining a strategic interest in investments in the country," ONEXIM Group CEO Dmitry Razumov said in a statement.According to Razumov, the company is always negotiating purchases and sale of assets, as well as attracting new partners in respect of certain assets – which are a common business activity. Some of those processes continue for years, and it is “incorrect to make statements on the sale of all the company’s assets based on the fact of such talks,” he said.
 
On Monday business daily Vedomosti reported the ONEXIM Group is selling all of its assets following raids by Russia's Federal Security Service on the company’s offices in April. According to Vedomosti, the decision to sell the assets may be linked to the searches. One of its sources said rumors about the company’s intention to sell the assets could be linked to a “strong recommendation from the Kremlin” but there was no evidence of that.
 
Kremlin spokesman Dmitry Peskov dismissed reports of the administration’s involvement in the potential sale of ONEXIM assets, calling them “total nonsense.”The ONEXIM Group is one of Russia’s major private investment funds with a diversified investment portfolio in mining (Russian Aluminum Rusal, Uralkali potash company), financial services (Soglasie Insurance Company, Renaissance Capital and Renaissance Credit, International Financial Club), real estate (OPIN), media (RBC media holding, Snob), energy sector (Quadra power generator), utilities and technology.
 
Forbes magazine estimates Mikhail Prokhorov’s fortune at $10.3 billion. The businessman is the sole owner of the Brooklyn Nets basketball team.
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Silver and gold surge as investors seek safe haven www.bbc.com

Silver, long considered the poorer cousin of gold, is trading at its highest price in more than two years as investors put their money into precious metals, perceived as lower risk assets.
Spot silver rose by as much as 7% in US trading to above $21 an ounce. It has risen 11.5% in the past three days.
Gold added more than 1% to settle at $1,350.79, a two-year high.
The gains come amid speculation central banks will increase their stimulus measures following the Brexit vote.
Meanwhile, Asian stock markets mostly fell on Tuesday, following five consecutive days of gains, after oil prices fell below $49 per barrel.
Both Japan's benchmark Nikkei 225 and the broader Topix shed about 1%.
South Korea's Kospi is 0.3% lower.
Australian stocks fell 0.6%, led by commodity stocks.
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UK govt proposes 15% corporate tax to boost post-Brexit economy www.rt.com

The UK Chancellor George Osborne is suggesting lowering the corporate tax rate to 15 percent in an effort to encourage businesses to invest in the British economy outside the European Union.Britain currently levies a 20 percent tax on business. The rate is due to be reduced to 19 percent in April and to 17 percent in 2020. A five percent tax cut might make the country one of the most competitive global economies.
 
The step is a part of a five-point plan to support the economy after Britain leaves the EU, which will spark a "do it yourself" recession in the UK, according to Osborne.“We must focus on the horizon and the journey ahead and make the most of the hand we've been dealt” the Chancellor said in an interview with the Financial Times.Osborne plans to attract investors from China, as well as to provide necessary support for bank lending and preserve the country’s fiscal credibility in order to uphold the economy in the post-Brexit era.A week before the referendum, the minister warned UK citizens he would introduce new austerity measures, including income tax rises and spending cuts, should Britain decide to leave the EU.The historic vote sent the value of the British pound to its lowest levels in decades. The financial markets initially tumbled but have since recovered. International rating agencies Fitch, Moody’s and Standard and Poor’s all downgraded the country following the decision to quit the EU.
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Business pessimism 'doubles after Brexit vote' www.bbc.com

UK business confidence has fallen sharply in the aftermath of the vote to leave the EU, research suggests.
The share of businesses that reported feeling pessimistic about the UK economy doubled in the week after the Brexit vote.
The figure jumped from 25% the week before the referendum to 49%, according to YouGov and the Centre for Economics and Business Research.
Falling confidence can lead companies to pull back on investment and hiring.
Scott Corfe, director at the CEBR, said that the figures, due to be published on Tuesday, indicated a "significant shock reaction" among UK businesses following the vote last month.
Mr Corfe told BBC Newsnight: "Businesses are clearly spooked by the referendum result and they've reined in their intentions for capital spending. They've reined in their expectations for exports and domestic sales growth.
"And business confidence is a leading indicator for where the economy is heading over the coming quarters. What it suggests is that the economy is in for quite a significant slowdown over the next three to six months."
The figures suggest that businesses have become more cautious in their outlook for sales and exports, as well as rethinking their investment plans.
'Contraction'
Business expectations for UK sales, exports and investment all dropped, according to the research. The index for capital investment plans fell from 108 in the week before the vote to 100.1. A figure above 100 indicates growth, while below 100 suggests contraction.
Expectations for exports fell from 115.3 to 99.8, suggesting falling sales overseas. Businesses that sell internationally face particular challenges given the uncertainty over the future relationship between the UK and the EU, its largest trading partner.
The slump in business confidence comes after research last week showed a marked deterioration in consumer sentiment about the economy. YouGov/CEBR said that consumer confidence had fallen back to its lowest level since May 2013.
Economists are watching measures of consumer and business confidence to gauge how uncertainty around the referendum result might affect the real economy, and whether it could prompt households to delay large purchases or companies to shelve investment plans.
"We expect this uncertainty to generate an investment-led recession as recent falls in business investment intensify," economists from Goldman Sachs wrote last week. "While assuming quite a resilient consumer, we expect weakening business investment to tip the UK into recession around the turn of the year."
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Tankan: Inflation expectations lowered www3.nhk.or.jp

The latest survey by the Bank of Japan shows businesses are anticipating a level of inflation well below the bank's target.
 
About 11,000 companies give their inflation outlook in the BOJ's quarterly Tankan survey.
 
Companies expect prices to rise an average 0.7 percent a year from now. That's down 0.1 percentage point from the April survey.
 
The firms in the survey also said they anticipate prices to increase an annual 1.1 percent 3 years from now.
 
Analysts point to a falling consumer price index and slow wage increases as factors keeping inflation expectations subdued.
 
The Bank of Japan wants to achieve a 2 percent inflation target in fiscal 2017.
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Japanese firms give advice for staff in Bangladesh www3.nhk.or.jp

Japanese firms operating in Bangladesh have advised their employees not to travel to the country after the terror attack in the capital, Dhaka.
 
Japanese electronics firm Toshiba has told employees to suspend business trips to Bangladesh until July 10th. The company has an office in Dhaka.
 
Obayashi Corporation and Shimizu Corporation are urging their Japanese workers in Bangladesh to stay in their homes. The 2 firms are building bridges for a highway connecting Dhaka and Chittagong.
 
The Fast Retailing group, which runs the Uniqlo clothing retail chain, has also told Japanese staff working for Bangladesh-based affiliates to stay in their homes.
 
A survey conducted by Japan's Foreign Ministry shows there were 243 Japanese companies operating in Bangladesh as of October last year. Labor costs in the country are relatively low.
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