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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North America leaders meet with trade threats, Brexit on their minds www.reuters.com

The leaders of the United States, Canada and Mexico gather on Wednesday to stress the importance of trade at a time of mounting international doubts about the benefits of globalization.
 
The three nations belong to the North American Free Trade Agreement (NAFTA), which U.S. Republican presidential candidate Donald Trump on Tuesday vowed to renegotiate or even scrap if he wins power.
 
Trump says free trade has been disastrous for American workers, costing countless thousands of jobs and depressing wages. Similar complaints were heard in Britain ahead of a shock referendum vote last week to leave the European Union and its own free trade area.
 
"We've seen around the world many examples of protectionism, of concern, of stepping away from trade agreements," Canadian Prime Minister Justin Trudeau told reporters on Tuesday, stressing the need for more rather than less cooperation.
 
"Better partnerships are a path to prosperity and that's a compelling example that we want to showcase at a time where unfortunately people are prone to turning inwards, which will be at the cost of economic growth and their own success."
 
Trudeau, U.S. President Barack Obama and Mexican President Enrique Pena Nieto will meet in Ottawa and are scheduled to hold a news conference at 3 p.m. (1900 GMT). The leaders, known informally as the Three Amigos, usually meet about once a year.
 
"We anticipate that leaders will spend a significant time talking about trade, for example, how to facilitate trade by automating our borders," U.S. National Security Council official Mark Feierstein told reporters on Tuesday.
 
The trio will also discuss Britain's so-called Brexit vote, which wiped more than $2 trillion off global equity markets and dealt a huge blow to the EU.
 
"The president will obviously want an opportunity to discuss ... how we may be able to coordinate our efforts to insulate ourselves to the extent possible," said Feierstein.
 
Earl Wayne, Obama's former ambassador to Mexico, said that amid increasing criticism of NAFTA, leaders had to find a better way to explain that up to 14 million U.S. jobs depend on trade with Canada and Mexico.
 
"That's a hard story to tell," he told reporters. "There is a lot of skepticism, and it's easier to sell the negative arguments."
 
The three men will also pledge to produce 50 percent of their nations' electricity from clean energy by 2025.
 
Obama is due to address the Canadian Parliament at 5.25 p.m. (2125 GMT).
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Japan stocks continue to stabilise despite Brexit turmoil www.bbc.com

Japanese shares on Tuesday continued to roll back losses from last Friday's sharp post-Brexit tumble.
After falling initially in morning trade, the Nikkei 225 index continued to build on Monday's gains and closed 0.1% higher at 15,323.14.
But with the yen remaining strong, Japanese exporters continued to suffer.
As investors remain on edge over the possible fallout from Brexit, they are flocking to the yen as a haven, driving the currency higher.
A rise in the yen makes Japanese goods more expensive abroad, potentially damaging the prospects of the country's crucial export sector.On Monday, the government in Tokyo had tried to reassure businesses by promising it would take action if needed to rein in the yen.
Carmakers Toyota, Nissan and Honda - all of which have production sites in the UK - all saw their shares fall on Tuesday.
Shares in other exporters, such as Hitachi, Panasonic and Yamaha, also dropped.
Over in Hong Kong the Hang Seng index closed down 0.27% at 20,172.46, while China's benchmark Shanghai Composite closed up 0.58% to 2,912.56.
Australia's ASX/200 in Sydney fell 0.7% to close at 5,103.30.
South Korea's benchmark Kospi index was lower in morning trade but ended the day 0.5% higher at 1,936.22.
Shares in Europe, the UK and the US saw heavy losses on Monday with the uncertainty over the UK's economic future intensifying.
The UK has now lost its top AAA rating from all the three major ratings agencies.
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Pfizer to invest $350 million in China biotech hub, first in Asia www.reuters.com

Pfizer Inc (PFE.N) will invest $350 million to build a biotech center in China, the latest in a series of moves by pharma industry giants to set up shop in the world's no. 2 drugs market with the aim of securing faster approvals for their products.
 
The facility in eastern Hangzhou region - Pfizer's first biotech center in Asia - is expected to be completed by 2018, the firm said in a statement on Tuesday.
 
Global "Big Pharma" is increasingly looking for smart ways to tap China's healthcare market, estimated by consultancy IMS Health to be worth around $185 billion by 2018. From investing in China facilities to acquisitions, licensing deals and joint ventures, the aim is to seek an edge in dealings with domestic regulators and government.
 
John Young, group president for Pfizer's essential health division, said in the statement that the Hangzhou facility should "help support China's aim to increase the complexity and value of its manufacturing sector by 2025".
 
Pfizer said it would "work closely" with local regulators to bring the drugs "to market as soon as possible". The center will mostly on biologic drugs - made from living micro-organisms rather than chemically synthesized - and lower-cost 'biosimilars', of generic versions of biologics.
 
Pharmaceutical executives have long complained about the slow process of getting drugs to market in China, while others have run up against regulatory roadblocks. Pfizer had to close its vaccine business in the country last year after a license for its top-selling vaccine Prevenar was not renewed.
 
China's overall healthcare spending is set to hit $1.3 trillion by 2020, but drug market growth has slowed to a low single-digit percentage pace from over 20 percent just four years ago as branded generics have lost their shine and Beijing has looked to drive down prices to keep a lid on costs.
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Abe urges support for small firms following Brexit www3.nhk.or.jp

Prime Minister Shinzo Abe says his government will do everything it can to support smaller businesses to weather the possible impact of the UK's vote to leave the European Union.
 
The government held an extraordinary meeting of its Council on Economic and Fiscal Policy on Tuesday.
 
Besides helping small companies, Abe said it is necessary to nip risks in the bud to keep the global economic growth on track.
 
He was responding to comments by a private-sector member of the Council. Sadayuki Sakakibara is the chairman of Japan's largest business federation, Keidanren.
 
Sakakibara spoke of heightened concern among Japanese companies about confusion in financial markets and a need to rethink their business strategies.
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Prime Minister launches Mongolia Investment Guide www.en.montsame.mn

Ulaanbaatar /MONTSAME/ The guide was launched by Mongolia's Prime Minister, Chimediin Saikhanbileg, at a ceremony in Ulaanbaatar. He said it would "improve transparency, reduce bureaucracy, improve the business environment and strengthen relations with investors", writes UNCTAD.
 
Designed to facilitate investment decisions, the UNCTAD online Investment Guide to Mongolia provides local and foreign investors with updated and hard-to-find information on operating costs, wages, rents and taxes, as well as on laws, procedures opportunities in mining, agriculture, tourism and financial services, and useful contacts.
 
The guide is aimed at helping Mongolia attract the kind of investment it needs to fulfill the aspirations set out in the global Sustainable Development Goals. UNCTAD has calculated that to achieve the SDGs developing countries globally need to attract $2.5 trillion a year in private investment per annum to bridge the current financing gap.
 
The information in the guide was developed following extensive meetings with government agencies that deal with investors as well as with investors themselves. To this end, the guide provides an overall investment picture that isn't available elsewhere.
 
Staff at the Invest Mongolia Agency took the lead in producing the information and data, under the guidance of UNCTAD. Training on investment issues was a key element in the programme.
 
The guide is based on a platform developed by UNCTAD (www.theiguides.org) and currently used in a number of countries. It has been designed to be easy update, ensuring the information available remains relevant.
 
The Mongolia investment guide is part of a package of assistance provided by UNCTAD to the Government on investment matters, and follows the Investment Policy Review of Mongolia of 2013.
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VW US emissions settlement reported to cost $15bn www.bbc.com

German carmaker Volkswagen has reportedly reached a $15bn (£11.3bn) settlement with US car owners after admitting it cheated emission tests.
The deal would offer to repair or buy back the affected diesel vehicles and pay owners compensation, according to sources close to the talks.
Last year, US regulators discovered that VW cars were fitted with software that could distort emissions tests.
The German giant subsequently said 11 million cars were affected worldwide.
The US settlement is still pending approval by a judge, but it would be the largest car scandal settlement in the country's history. The details are expected to be announced on Tuesday.
According to news agencies, the legal settlement sets aside $10 billion to repair or buy back around 475,000 affected vehicles with 2-litre diesel engines, and to compensate owners with a payment of up to $10,000.
Car owners would still be able to decline the VW offer and sue the firm on their own.
According to the sources quoted by news agencies, the deal also includes $2.7bn in funds to offset excess diesel emissions and $2bn for research into green energy and environment-friendly cars.
Caught cheating
The German carmaker installed software in diesel engines to detect when they were being tested so the cars could cheat the results.
Some models could have been pumping out up to 40 times the legal limit of the pollutant, nitrogen oxide, regulators disclosed.
Volkswagen told its shareholders last year it had set aside $7.3bn to help defray the potential costs of a recall or regulatory penalties.
That amount though might not be enough - the company faces as much as $20bn in fines for Clean Air Act violations alone.
The increased emissions provision pushed VW to an annual pre-tax loss of €1.3bn (€1.4bn), compared with a profit of €14.7bn the previous year.
VW expected group sales to fall by up to 5% in 2016.
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EU referendum: German car makers warn on free movement www.bbc.com

German car makers have said that the UK will have to accept the free movement of EU citizens in return for access to the single market.
Matthias Wissmann, from the German Automotive Industry Association, said the UK would have to accept the "bitter pill" of free movement.
Restricting access to the UK was a key promise of the Leave campaign.
Leave campaigners also argued that, to help car exports, Germany would push for a generous trade deal with the UK.
However the German car makers appear to be taking a tough line.
"We don't like to build new barriers... but any bid to secure full access to the single market would necessarily come with conditions. Everyone who negotiates on the British side will understand that," Mr Wissmann said.
"If you want full access to the market, that comes necessarily with the free movement of people. That's the bitter pill the Brexiteers have to accept," he added.Responding to those comments, Conservative MP John Redwood said: "The contacts I've had over recent months have always stressed to me that Germany doesn't wish to impose new tariffs or other barriers in the way of our trade
"And Germany in particular doesn't want the World Trade Organisation external tariffs on cars, because that's one of the few which is quite a bit higher."
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Japan, US officials to cooperate on Brexit www3.nhk.or.jp

Senior officials from Japan and the United States have agreed to work together to stop adverse effects on the economy and security from the UK's decision to leave the European Union.
 
Japan's Vice Minister for Foreign Affairs Shinsuke Sugiyama met with US Deputy Secretary of State Antony Blinken in Washington on Monday.
 
After the meeting, Sugiyama told reporters that he and Blinken shared the view that the UK is an important country that has cooperative ties with both Japan and the US.
 
He also said they noted that the security situation in the Asia-Pacific region is becoming increasingly tense in the wake of North Korea's launches of 2 missiles last week.
 
Sugiyama said he agreed with Blinken that it is important to strengthen cooperation between Japan, the US and South Korea.
 
Later this week, Sugiyama will also visit London and Brussels, where the EU headquarters is located, to meet with senior officials.
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Gazprom ready to restart Turkish Stream dialogue after Erdogan apology www.rt.com

Gazprom is ready to resume talks with Ankara on the construction of the Turkish Stream gas pipeline after Russia received an apology for the downing of its warplane from Turkish President Recep Tayyip Erdogan, the company’s spokesperson said.
The Russian gas giant is "open for dialogue" on the Turkish Stream project, which would run along the bottom of the Black Sea, Gazprom spokesperson Sergey Kupriyanov told Interfax on Monday.
 
In 2014, Gazprom and Turkey’s Botas signed a memorandum of understanding for the construction of Turkish Stream.The 1,100km pipeline was planned to have four lines and an annual capacity of up to 63 billion cubic meters (bcm) of gas.
 
According to the agreement, about 16 bcm was supposed to be supplied to Turkey while the remaining 47 bcm was to go to a hub on the Greek-Turkish border to be transported onwards to Europe.
 
However, Moscow suspended negotiations on the project as part of other sanctions in response to Turkey’s shooting down of a Russian jet in Syria on November 24, 2015.
 
On Monday, the Kremlin said that Russian President Vladimir Putin had received a letter in which his Turkish counterpart Erdogan apologized for the incident with the Su-24 plane and the subsequent death of a Russian pilot.
 
In his letter, Erdogan called Russia “a friend and a strategic partner” of Ankara with whom the Turkish authorities want to mend ties.
 
From the start, Moscow made it clear that restoration of normal relations with Turkey would be impossible without Ankara saying for the downing of the plane. But Russia had to wait for an apology for over half a year.
 
 
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SDC: Tackling poverty in Mongolia through support to vegetable production www.en.montsame.mn

Ulaanbaatar /MONTSAME/ With more than 63,000 predominantly small-scale vegetable growers throughout Mongolia, the vegetable sector has become vital in poverty alleviation and as a source of healthy food for an increasingly urbanized population.
 
The Swiss Agency for Development and Cooperation (SDC) believes that providing support for increased and diversified production, storage, processing, marketing and consumption, as well as a conducive legal framework, will benefit both rural households’ livelihoods and the national economy.
 
SDC’s new Inclusive and Sustainable Vegetable Production and Marketing Project, launched in April 2016, will work with vegetable farmers mainly in the central region of Mongolia including the suburbs of Ulaanbaatar city, providing them with greater knowledge and higher-quality seeds through collaboration with national agricultural institutions and the Ministry of Food and Agriculture.
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