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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Australian political limbo drives dollar lower www.bbc.com

The Australian dollar weakened after the country's election over the weekend ended up too close to call, raising the prospect of a hung parliament.
The dollar started about 0.4% lower around $0.7435 but later edged back up to $0.7469 in light trading.
The benchmark ASX/S&P 200 fell in early trading on Monday before rising 0.3% following a gain in commodities.
Neither the ruling Liberal-National Coalition nor the opposition Labor parties secured an outright majority.
The result won't be decided until at least Tuesday, which is when vote-counting resumes.
The uncertainty and an increased risk of Australia having it's "AAA" credit rating cut has "dented" the country's currency, Vishnu Varathan from Mizuho Bank said.
Australia's central bank is also expected to hold fire at its policy meeting on Tuesday, analysts Capital Economics said:
"The fallout on the economy and financial markets from the uncertain outcome of the Federal election will probably be relatively mild and short-lived and is unlikely to prompt the Reserve Bank of Australia to cut interest rates from 1.75% to 1.50%.
"It is concerns over the weak outlook for inflation, not the political outlook, that will trigger a rate cut to 1.50% in August," it said in a report.
Elsewhere in Asia
Asian markets are mostly rising as traders turn their focus from the UK's decision to exit the European Union to the prospect of policymakers unleashing more easing measures to boost growth.
Japan's Nikkei 225 has also reversed earlier losses and rose 0.7% in the afternoon session. South Korea stocks are 0.4% higher.
In Greater China, the Shanghai Composite gained 1.8% and Hong Kong's Hang Seng rose 1.5%.
One stock not doing well though is Chinese property developer Vanke, which is undergoing a contested restructuring.
Its shares were suspended from trading in Shenzhen after plunging by the daily 10% limit.
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Uniqlo suspends most Bangladesh travel as attack rattles garment industry www.asia.nikkei.com

TOKYO (Reuters) -- Japan's Fast Retailing Co , owner of the Uniqlo casual-wear brand, will suspend all but critical travel to Bangladesh and has told staff there to stay home after 20 people, including seven Japanese, were killed in an attack that began late Friday.
 
Bangladesh's $26 billion garment industry has been bracing for the fallout of the killings at a Dhaka restaurant, fearing major retailers from Uniqlo to Marks and Spencer and Gap Inc could rethink their investment after the latest attack targeting foreigners.
 
Uniqlo has 10 Japanese staff in Bangladesh, one of its major production hubs outside China, and was among the first to confirm that it will tighten travel restrictions, already in place after attacks on foreigners last year.
 
A spokeswoman said all but critical travel was suspended.
 
Industry analysts have suggested brands could now consider shifting out of Bangladesh and into other, less unsettled, countries in the wider region from Cambodia to Sri Lanka. But no major producer has yet signalled official plans.
 
"There are no plans in changing any sourcing, but we are following developments closely," Sweden's H & M said in a Sunday statement echoed by other major retailers.
 
Bangladesh, one of the world's poorest countries, relies on garments for around 80 percent of its exports and for about 4 million jobs, and ranks behind only China as a supplier of clothes to developed markets like Europe and the United States.
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Volkswagen brand chief says no plans to step down despite investigation www.reuters.com

Volkswagen's (VOWG_p.DE) brand chief, Herbert Diess, is not planning to resign even though he is the subject of investigation by public prosecutors, he told a German newspaper.
 
The carmaker said late last month that prosecutors in Braunschweig were investigating Diess as part of a probe into whether Europe's carmaker violated disclosure and market manipulation rules by taking too long to inform investors it had cheated emissions tests.
 
"It's not up for debate," Diess told Sueddeutsche Zeitung in an interview published on Monday, when asked if he had thought about stepping down as a result of the probe.
 
He added the investigation had taken him by surprise and that he had first heard about it when asked by the media.
 
Volkswagen's reputation will take 12-18 months to recover from the crisis, although a strategic turnaround will take up to 14 years, Diess added.
 
The company needed to shift its strategic focus to employ more information technology and battery experts, Diess said. The shift would take "two vehicle generations" to be implemented, he said. Modern cars have a lifecycle of around seven years. "We must become more efficient, or else we won't be able to afford the transformation," he added.
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Record number of executives paid over 100 mil. yen www3.nhk.or.jp

A record total of 414 executives at publicly-traded Japanese firms were paid more than 100 million yen, or about one million dollars, in the business year that ended in March.
 
Researchers examined data from 2,443 Japanese companies.
 
The figure rose by one from last year's total. It was also the 4th consecutive annual increase, reflecting the strong financial performances of many firms.
 
The highest earner was SoftBank's former vice president Nikesh Arora with about 65 million dollars, followed by SoftBank executive Ronald Fisher with about 21 million dollars.
 
Michiyoshi Onishi, a former chairman of electronic component manufacturer Aoi Electronics, was 3rd with total compensation of around 11 million dollars.
 
The president of Nissan Motor Corporation, Carlos Ghosn, was in 4th place with about 10 million dollars.
 
Analysts say an increasing number of foreign executives are earning more than 100 million yen, as more Japanese companies are hiring foreigners to expand their business operations outside the shrinking domestic market.
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Oil extends gains, Saudi minister sees market balance www.reuters.com

Crude prices extended gains on Monday in Asia, supported by comments from the Saudi energy minister saying the oil market is heading toward balance.

London Brent crude for September delivery LCOc1 was up 17 cents at $50.52 a barrel by 2247 GMT on Sunday, after settling up 64 cents at $50.35 on Friday.

NYMEX crude for August delivery CLc1 was up 5 cents at $49.04 a barrel, after closing up 66 cents, or 1.4 percent, on Friday. There will be no West Texas Intermediate crude settlement on Monday as U.S. financial and commodity markets are closed for the Independence Day holiday.

The energy minister of Saudi Arabia, the world's largest oil exporter, and the secretary general of OPEC agree that the global oil market is heading toward a balance and that prices are starting to settle, according to comments carried by Saudi state news agency SPA.

U.S. drillers last week added oil rigs for a fourth week in five, according to a closely followed report Friday, in the best month of producers returning to the well pad since August that signaled a near-two year rout in drilling may have ended.

The Niger Delta Avengers, a militant group that has been carrying out attacks on Nigerian oil facilities in the past few months, claimed responsibility on Sunday for five new attacks in the southern energy hub since Friday.

Attacks in the Niger Delta have pushed Nigerian crude production to 30-year lows, although the Nigerian National Petroleum Corporation (NNPC) said last week that output was rising because of repairs and a fall-off in attacks.

Russian oil output stood at 10.84 million barrels per day (bpd) in June, up from 10.83 bpd in May, Energy Ministry data showed on Saturday.

Norwegian offshore oil workers and employers signed a new wage deal on Saturday, avoiding a strike that would have cut the output from western Europe's top oil and gas producer by about 6 percent, employers and unions said.

Money managers cut their net long U.S. crude futures and options positions in the week to June 28, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday.

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London stock exchange shareholders to vote on German deal www.bbc.com

Shareholders in the London Stock Exchange are due to vote on a planned merger with its German counterpart Deutsche Boerse.
The two agreed a $27bn (£20bn) deal earlier this year but the Brexit vote has raised questions about how it should be implemented.
Both companies have said the outcome does not affect the logic of the deal.
However Germany's regulator, Bafin, said the headquarters could not be in London, as had been planned.
"Without doubt... it is hard to imagine that the most important exchange venue in the eurozone would be steered from a headquarters outside the EU," said Felix Hufeld, Bafin's president.
"There certainly has to be an adjustment here."
It does not have a veto on the deal but it is thought that Deutsche Boerse is likely to take its concerns seriously.
In a joint statement released shortly after the UK's referendum the companies said the outcome did not affect "the compelling rationale of the merger".
In fact, the head of the Deutsche Boerse Joachim Faber said the decision made it "ever more important to maintain and foster ties between the UK and Europe".
The deal still needs to be approved by regulators and, according to Reuters news agency, any major changes to it could need further shareholder approval.
As it stands, the deal is expected to be approved later on Monday with German shareholders due to vote on it on 12 July.
The companies hope to complete the deal in early 2017.
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EU extends sanctions against Russia for another six months www.rt.com

The European Union has formally extended economic sanctions against Russia until January 31, 2017, the EU Council announced in a statement on Friday.
The sanctions limit access to EU capital markets for a number of Russian financial institutions, as well as energy and defense firms. Restrictions on arms trading and certain types of oil production technology will also be extended.
"On 1 July 2016, the Council prolonged the economic sanctions targeting specific sectors of the Russian economy until 31 January 2017," said the Council statement.
Relations between Moscow and the West deteriorated during the 2014 Ukraine crisis.
The United States, the European Union and their allies accused Russia of involvement in the conflict in Eastern Ukraine and the annexation of Crimea, claims the Kremlin has repeatedly denied.
Washington and Brussels introduced several rounds of sanctions against Russian individuals, as well as the energy, banking and defense sectors. In response, Moscow banned food imports from countries that joined anti-Russian sanctions.
On Tuesday, Russian President Vladimir Putin signed a decree prolonging the embargo on Western products until the end of 2017.
The Council plans to discuss EU-Russia relations and sanctions during a meeting in the fall.
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World's largest copper mine output, profit plummeted in Q1 www.mining.com

Output at Chile’s Escondida, the world's largest copper mine, fell in the first three months of 2016 causing profits to sink 47% to $265 million compared to the same period last year, among weak prices for the industrial metal.
 
The mine, co-owned by BHP Billiton (57.5%) and rival Rio Tinto (30%), produced 265,597 tonnes in the period, or 23% less than the 347.125 tonnes it generated in Q1 2015, Chilean newspaper La Tercera reported (in Spanish).
 
Mine revenues also plummeted to about $1.4 billion from $2 billion in the same period last year.
 
If Chile’s production continues to suffer due to weak prices, the country — the world’s No. 1 copper producer — will lose ground to competitors including Peru, China, United States, Australia and emerging markets, such as Zambia and the Democratic Republic of Congo, in Africa’s Copperbelt, state copper commission Cochilco warned in January.
 
While copper prices have picked up in recent weeks, long-term demand fundamentals are likely to limit price rises in 2016, experts believe.
 
Growth in China — the world’s largest copper consumer, accounting for 45% of global demand — continues to be slow.
 
"Chinese manufacturing is not picking up momentum, so demand is not picking up and there is no reason for copper prices to rise," Julius Baer analyst Carsten Menke told Reuters last month.
 
“Despite sizable policy stimulus in China…demand for copper is unlikely to receive a boost on the scale that had seemed likely,” Caroline Bain, senior commodities economist at Capital Economics wrote on Wednesday.
 
The chairman of Codelco, the world’s largest copper miner, agrees. Oscar Landerretche, who holds a Ph.D. in economics from The Massachusetts Institute of Technology (MIT), has said that oversupply is likely to last through this year and next, keeping prices around $2 to $2.10 a pound.
 
More than 750,000 tonnes of annualized supply were idled in 2015 by companies including Freeport McMoRan and Glencore in response to low prices, according to a report by consultants Wood Mackenzie.
 
In addition some major projects are ramping up this year including China Minmetals' Las Bambas mine and Freeport's Cerro Verde expansion project in Peru. There is also a robust pipeline of projects that could fill any supply gaps including First Quantum's Cobre Panama and the Goldcorp-Teck joint venture in Chile named NuevaUnion.
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BMW and Intel plan robot car production www.bbc.com

BMW, Intel and computer vision firm Mobileye have signed a deal to develop autonomous vehicles.
The three firms will collaborate on the systems needed to make cars that can navigate without any help from a human driver.
The vehicles will be capable of driving safely along major roads as well as in suburban and inner city areas.
BMW said it hoped the collaboration would mean it could put robot cars into production by 2021.
The research partnership was announced on the day when US officials begin an investigation into a fatal car crash involving a Tesla Model S, to which self-driving technology could have contributed.
Plugged in
BMW said the trio would develop computer and sensor systems that gradually reduce the part humans play in driving a car. Ultimately, it said, it hoped to produce vehicles that could operate entirely autonomously without any people onboard.
Achieving this, said BMW, would make it possible for fleets of unmanned vehicles to operate safely. This, it added, could spur the creation of novel ride-sharing services in urban areas or lead to the creation of long-distance delivery services that employ robot-driven trucks.
In a statement, the three firms said they were "convinced that automated driving technologies will make travel safer and easier".
They pledged to make the results of the research available to other car makers and electronics firms to help standardise technologies used in autonomous vehicles.
Early work would focus on a "highly automated driving" prototype which BMW said it planned to demonstrate this year. More extensive tests of this technology across lots of vehicles were planned for 2017, it added.
The autonomous car that emerges from the partnership would be likely to be electric and called the iNext, it said. Other vehicles in the i-range include the i8 hybrid and the i3 all-electric vehicle.
Before now, BMW has shown off concept cars that use autonomous technology and it is already working with Baidu in China to produce a self-driving car suited to that market.
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Chinese company Hisense reaps benefits from Euro 2016 sponsorship www.chinadaily.com

BEIJING - Chinese electronics giant Hisense appears to have gotten its money's worth out of its sponsorship of the Euro 2016 soccer championship.
Hisense signed as the 10th global partner for the UEFA EURO 2016 finals on Jan 14, joining top brands Adidas, Carlsberg, Coca-Cola, Continental, Hyundai-Kia, McDonald's, Orange, SOCAR and Turkish Airlines to complete the tournament's sponsorship program.
 
Hisense kept its sponsorship fee a secret, while reports said it spent 370 million yuan ($55.61 million) for its debut in the top European soccer event, a sum amounting to about 25 percent of last year's net profit.
 
As the first-ever Chinese company to endorse the 56-year-old tournament, Hisense announced that its Euro 2016 exposure in China alone meant that returns exceed its investment after only the group stage.
 
"It has been the most successful brand marketing in the company's 47 years of history," said the company's brand director Zhu Shuqin.
 
Hisense said its logo appeared not only on the LED screen on site in the 36 group matches, but also on the tickets and the interview backdrops.
 
"Hisense's logo was caught by the cameras during the matches and seen by millions of TV viewers all over the world," Zhu said.
 
In China, Hisense's logo exposure through the live broadcast of China's Central Television amounts to some 300 million yuan worth of advertisement on TV, Zhu said, adding that 35 million Chinese fans followed the tournament and watched the matches on TV.
 
Pleased with the results of their sponsorship at Euro 2016, Zhu revealed that the company may go on to sponsor the 2018 Russia World Cup while its endorsement for other UEFA national team competitions will run until the end of 2017.
 
The competitions include the European Qualifiers for the 2018 FIFA World Cup, UEFA Futsal Euro 2016, the 2017 UEFA European U-21 Championship and UEFA Women's Euro 2017.
 
European soccer's ruling body UEFA also seems happy to have Hisense on board. Guy-Laurent Epstein, the marketing director of UEFA Events SA, told Xinhua that the sponsorship "is something between football and the Chinese brand. As we provide a great commercial platform, I am sure that this sponsorship will give Hisense a great opportunity to grow their brand in Europe and internationally."
 
"We look forward to working closely together with them in a mutually beneficial partnership that will also further promote the best of European football to millions of fans in China," he added.
 
While Hisense added the first-ever Chinese flavor to the European Championship, other Chinese enterprises are also seeing potentially enormous returns from sponsoring high profile sports events.
 
In December last year, Alibaba E-Auto, an "internet car" brand owned by Chinese e-commerce giant Alibaba Group, reached an eight-year presenting partnership of the Club World Cup with soccer's world governing body FIFA.
 
Alibaba thus became the first Chinese company to have presenting partnership with the FIFA tournament.
 
Months later, Chinese real estate and entertainment giant Wanda Group inked a partnership deal with FIFA which runs through the 2030 World Cup. The contract grants Wanda the highest level of sponsorship rights in the next four FIFA World Cup editions.
 
But Wanda's ambition did not stop at soccer. It also ventured into basketball, becoming the exclusive partner of the Federation of International Basketball (FIBA) for their worldwide sponsorship, including the sale of licensing rights and global marketing.
 
"It was not a mindless splurge. We are buying our way out because the key international sports industry resources, including the marketing rights and broadcast rights can only be redistributed in this way," said Wanda chairman Wang Jianlin.
 
Last year, Wanda nailed a 20 percent stake in Madrid Atletico at 45 million euros, merged with World Triathlon Corp. (WTC) for 585 million euros, and acquired Swiss sports marketing group Infront Sports & Media for 1.05 billion euros.
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