1 MONGOLIA-CHINA AGREE TO COLLABORATE IN INCREASING MEAT EXPORT WWW.MONTSAME.MN PUBLISHED:2018/09/21      2 U.S. AND MONGOLIA SEEK TO STRENGTHEN ECONOMIC RELATIONSHIP WWW.STRTRADE.COM PUBLISHED:2018/09/21      3 MONGOLIA, U.S. LEADERS DISCUSS BILATERAL TIES WWW.XINHUANET.COM PUBLISHED:2018/09/21      4 BELT AND ROAD SIGNIFICANT TO MONGOLIA, PEOPLE AROUND WORLD -- ACADEMIC WWW.ENG.YIDAIYILU.GOV.CN PUBLISHED:2018/09/21      5 PETRO MATAD UPDATES MONGOLIA EXPLORATION WWW.OGJ.COM PUBLISHED:2018/09/21      6 RIO TINTO’S EXIT FROM COAL PAYS OFF, TO RETURN $3.2B FROM SALES PROCEEDS TO SHAREHOLDERS WWW.MINING.COM PUBLISHED:2018/09/21      7 OPENING CEREMONY OF SAINSHAND SALKHIN PARK HELD WWW.MONTSAME.MN PUBLISHED:2018/09/21      8 ALIBABA’S MA SAYS TRUMP’S TRADE WAR ‘DESTROYED’ HIS PROMISE TO CREATE JOBS FOR 1MN AMERICANS WWW.RT.COM  PUBLISHED:2018/09/21      9 LEGAL DISPUTE OVER EMC OWNERSHIP COMES TO AN END WWW.ZGM.MN PUBLISHED:2018/09/20      10 ERDENES TAVAN TOLGOI REVENUE SURGES DUE TO HIGHER COAL PRICES WWW.NEWS.MN PUBLISHED:2018/09/20      НУРАХ ДӨХСӨН БАЙРУУДЫГ ШИНЭЧЛЭХ КОМПАНИ ОЛДОХГҮЙ БАЙНА WWW.ZGM.MN НИЙТЭЛСЭН:2018/09/21     МОНГОЛ УЛС ВАШИНГТОН, ПЁНЬЯНЫ ХЭЛЭЛЦЭЭРТ ЗУУЧЛАХАД БЭЛЭН ГЭДГЭЭ ЗАРЛАЛАА WWW.EAGLE.MN НИЙТЭЛСЭН:2018/09/21     УЛСЫН ХЭМЖЭЭНД 85.3 МЯНГАН ТОНН ТӨМС ХУРААН АВААД БАЙНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/09/21     ЗГ: БУЦАЛТГҮЙ ТУСЛАМЖИЙГ УСНЫ НӨӨЦИЙГ САЙЖРУУЛАХ, ХЭРЭГЛЭСЭН УСЫГ БУЦААН АШИГЛАХАД ЗАРЦУУЛНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/09/21     ҮСХ: УЛААНБААТАРТ АЖИЛЛАГЧДЫН САРЫН ДУНДАЖ ЦАЛИН УЛСЫН ДУНДЖААС 121.7 МЯНГАН ТӨГРӨГӨӨР ИХ БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/09/21     МОНГОЛ УЛСЫН ИХ ХУРАЛ, ЕВРОПЫН ПАРЛАМЕНТ ХООРОНДЫН XII УУЛЗАЛТААР ХАМТАРСАН МЭДЭГДЭЛ ГАРГАЛАА WWW.DNN.MN НИЙТЭЛСЭН:2018/09/21     ТӨРИЙН АЛБАНЫ УДИРДАХ АЖИЛТНЫ УЛСЫН ЗӨВЛӨГӨӨН БОЛЖ БАЙНА WWW.UNUUDUR.MN НИЙТЭЛСЭН:2018/09/21     2019 ОНЫГ МОНГОЛ, АМЕРИКИЙН ЗАЛУУЧУУДЫН ЖИЛ БОЛГОНО WWW.EAGLE.MN НИЙТЭЛСЭН:2018/09/21     УУРХАЙЧДЫН АЖЛЫН БАЙР НЭМЭГДЭЖ, ЦАЛИН ӨСЧ БАЙНА WWW.GOGO.MN НИЙТЭЛСЭН:2018/09/20     “ЭРДЭНЭТ”-ИЙН 49 ХУВИЙН ӨМЧЛӨЛ ТОЙРСОН ХУУЛЬ ЗҮЙН МАРГААН ЭЦЭС БОЛЛОО WWW.ZGM.MN НИЙТЭЛСЭН:2018/09/20    

Events

Name organizer Where
Frontier's "Invest Mongolia Tokyo 2018" Frontier Securities Tokyo Japan
"Open to Export" ICC WTO International business award ICC WTO London

NEWS

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China determined to improve quality, standard of consumer goods www.xinhuanet.com

BEIJING, Aug. 25 (Xinhua) -- China plans to lift the quality and standards for consumer goods through more market-oriented efforts and adopting a wider range of global standards within the coming five years, as part of the country's supply-side structural reform and boosting domestic consumers' confidence.

A new guideline on improving consumer goods' standards and quality (2016-2020), initiated by the General Administration of Quality Supervision, Inspection and Quarantine, was approved during the State Council's executive meeting on Wednesday, chaired by Premier Li Keqiang.

The new guideline is in line with the country's ongoing economic transition from an investment-driven economy to a more consumption-driven one. Final consumption already contributed 73.4 percent to China's gross domestic product (GDP) growth in the first half of 2016.

"Government departments should better enhance coordination, while enterprises need to have stronger emphasis on quality, branding, R&D and marketing. They also need to fully set up awareness of branding," Li said. "It is important that the quality of consumer goods made in China can withstand the test of the market."

Further steps will be taken to upgrade the standards for consumer goods, improve quality and enterprise competence, and develop more domestic brands with global appeal.

According to the new guideline, by 2020, more than 95 percent of consumer goods in major sectors will meet international standards.

There are issues yet to be addressed though. For example, the present criteria for consumer goods still lag behind the growing demand of domestic consumers. Meanwhile, Chinese brands still have a lot of work to do to build up their competitiveness.

During the meeting, Li highlighted the importance of product safety.

"Product safety comes first and foremost for improving consumer goods' quality and standards," Li said. "We should not leave product safety a matter of concern for consumers. The government should also innovate our supervisory methods."

Major efforts in the coming five years include upgrading the present standard of consumer goods, improving consumer goods' quality, building brands with a global reputation and optimizing the market environment. Next to such efforts, the government will also provide more financial and regulatory support for developing the sector.

Efforts in branding will be enhanced with the country's stronger protection and regulation of intellectual property rights, especially for patents and trademarks. Counterfeit and shoddy goods will also be primary targets for law enforcement. At the same time, consumer good producers will be inspected more regularly, and there will be more random checks.

The premier pointed out that upgrading consumer goods would go hand in hand with developing the equipment manufacturing industry.

"By improving the consumer goods sector, we will force the upgrading of equipment manufacturing," Li said. "The manufacturing industry is the cornerstone of the country's entire industry."

Li said that companies must make more efforts to train more highly skilled workers through cooperation with vocational educational institutions.

"We need to train more highly skilled workers and foster a culture of craftsmanship," the premier said.

Chinese consumption overseas reached 1.5 trillion yuan (226.15 billion U.S. dollars) in 2015, of which about half was spent on shopping, according to the Ministry of Commerce.

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Self-driving taxi trial kicks off in Singapore www.bbc.com

Self-driving cars and taxis are the buzz of the industry. Everyone seems to be doing it, trying grab headlines with every step forward or new trial phase.
But the real deal always seemed to be still years in the future.
Now, here in Singapore, you can in fact hop into a driverless taxi and go for a ride. And it's even free.
But hold your horses, it's still only a trial. It does, though, take things a wee bit further than what we've seen from the big car makers, Google or ride-hailing giant Uber.
A truly driverless ride?
Well, sort of. Given that it is a trial, there's of course still a driver in the front.
But the cars are doing the driving themselves, and the driver is only there to monitor the performance and as a backup in case something goes wrong.
Who's behind it?
It is not any of the big names of the car industry who we know are all pushing the technology in their research and development departments.
It's a company called nuTonomy, a US-based start-up developer of software for self-driving cars. The company was founded in 2013 by two MIT researchers specializing in robotics and driverless technology. The firm has offices both in the US and in Singapore.
Earlier this year, nuTonomy was the first company to get permission from the Singapore government to test self-driving cars in a small area of the town. It's now begun tests with passengers.
How does it work?
Given that nuTonomy is not a car manufacturer, these are not flashy futuristic vehicles designed for a driverless future. Rather, they are small Renault and Mitsubishi electric vehicles that have been equipped with the company's software and cameras.
The micro cars are still, however, a step up from some of nuTonomy's previous trials with driverless vehicles in 2014 - back then, the flashy ride was in fact an electric golf cart.
The new taxi trial currently consists of a fleet of six cars - each of them has a complex system of lasers that operate like a radar to monitor the car's surrounding. In addition there are cameras that work with the software.
Free rides across Singapore?
Not exactly. It's a very, very small part of town and far, far away from the centre. The taxis will run in a limited 2.6 sq mile (4 sq km) area in the west of the city-state. Also, there are designated pick-up and drop-off spots so you can't get on or off wherever you fancy.
And it's not for everyone yet. You have to register after receiving an invitation from nuTonomy and so far, only a few dozen people are part of the programme. The firm says that it plans to expand the service to thousands of people within a few months.
Why Singapore?
The city is already a bit of a taxi heaven. Owning your own car is mind-bogglingly expensive and many people take taxis on a regular basis. Cab rides are cheap and there's a very high demand.
Also, the city's overall traffic situation is rather disciplined and organised. More often than not when Singaporeans talks about a traffic jam, all they mean are a few cars more than usual at a traffic light.
So the goal is not just to complete a little trial but to expand it to a fully self-driving taxi fleet in Singapore by 2018 - that's according to nuTonomy.
Way ahead of the competition?
NuTonomy appears to be amongst the top of the pack, but is by no means way ahead of the other players.
Uber is planning a very similar project to be launched in Pittsburgh in the US in a few weeks time.
And just about every car company is working on driverless technology from Silicon Valley's Tesla to Ford, Volvo, BMW and a number of Chinese car makers.
Internet giant Google was in fact amongst the first to pioneer and extensively test its driverless Google car and has teamed up with a number of car makers for their research.
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China banking sector onshore assets up 14.5 pct www.xinhuanet.com

BEIJING, Aug. 25 (Xinhua) -- Chinese banks held 212.7 trillion yuan (32.2 trillion U.S. dollars) in onshore assets by the end of July, according to data released by the China Banking Regulatory Commission on Thursday.

The volume was up 14.5 percent year on year, the banking regulator said.

The combined onshore assets of China's "big five" lenders -- Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, and Bank of Communications -- came in at 77.9 trillion yuan by the end of last month, accounting for 36.6 percent of the total assets in the industry.

By July, the lenders' onshore liabilities rose 14.4 percent to reach 196 trillion yuan, the data showed.

Due to a cooling economy, China's banks have seen profit growth slow in recent years.

Earlier official data showed the net profits of commercial lenders reached 899.1 billion yuan during the first half of the year, up 3.17 percent year on year.

 
 
 
 
 
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Japan, US to promote alternative energy in Africa www.nhk.or.jp

Japan and the United States have signed a memorandum of cooperation on developing geothermal power generation in Africa.

The signing came ahead of the Tokyo International Conference on African Development, or TICAD, that opens in Nairobi on Saturday.

Under the agreement, the governments of Japan and the United States will promote investment in environmentally friendly energy sources in Africa. They will focus on jointly carrying out geothermal power generation development in East Africa.

In Africa, only 30 percent of the population has access to electricity. Securing new energy sources has become an urgent issue as the region's economy grows.

Ahead of the memorandum signing on Thursday, Japan International Cooperation Agency, or JICA, together with US aid organizations held a symposium in Nairobi on electric power development.

A JICA official pointed out that some areas in Africa have geological formations that make it easy to acquire high-temperature steam from underground.

The official said Japan can utilize the geothermal power generation technology it has developed as a result of its many volcanos.

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DIY disaster sends Australia's Woolworths to record loss www.bbc.com

Woolworths, Australia's biggest supermarket chain, has reported a record annual loss of A$1.2bn (£690m), following its decision to quit the DIY market.
The company made a profit of A$2.1bn in the previous year.
The results were hit by a A$1.8bn write off from quitting its Masters hardware joint-venture with US firm Lowe's.
The retailer issued a series of profit warnings last year amid intense competition in the grocery market.
The financial year had been one of "unprecedented change for Woolworths", said chief executive Brad Banducci. The company's decisions had had a "material impact" on the results but were "necessary to begin the rebuilding of Woolworths", he added.
"We are seeing early signs of progress as we work to restore our competiveness and improve our culture in Australian food. We have also addressed significant issues facing the Group with the decision to exit Home Improvement and decisive action taken on BIG W [discount department store chain] to reposition the business," he said.
Mr Banducci took over earlier this year when his predecessor stepped down over the decision to abandon the controversial hardware venture.
Reform plans
On Wednesday, Woolworths announced it was quitting three of its home improvement businesses.
That decision is part of Mr Banducci's reform plans following on from February's announcement of the company's first half-year loss in 23 years.
Home Timber & Hardware is to be sold to smaller competitor Metcash.
All the Masters hardware stores will close by December and the properties sold to investor group Home Consortium.
Woolworths plans to concentrate on its supermarket business so it can compete more effectively against rival Coles, as well as discounters such as Aldi and Lidl - both relatively recent entrants to the Australian market.
"We expect trading conditions to remain highly competitive in (the coming financial year) but are confident that we have a clear plan and set of priorities," said Mr Banducci.
Shares in Woolworths jumped by more than 7% following the announcement.
Woolworths said it would pay a final dividend of 33 cents, down from 72 cents the previous year.
Australia's Woolworths has no links with chains of the same name in the US or South Africa, or the defunct UK retailer.

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Big banks buckle down to build better bitcoin www.rt.com

UBS, Deutsche Bank, Santander and BNY Mellon have partnered up to create a new digital currency to facilitate intra-bank settlements, the FT reports. The cryptocurrency will use blockchain technology underpinning the Bitcoin.

The banks are working with London-based blockchain startup Clearmatics, and the official launch is expected in 2018, according to the media.

“Today trading between banks and institutions is difficult, time-consuming and costly, which is why we all have big back offices. This is about streamlining it and making it more efficient,” Julio Faura, head of R&D and innovation at Santander told the FT.

All four banks are members of the 50-strong R3 consortium of financial institutions exploring ways of blockchain usage in the financial system.

“You need a form of digital cash on the distributed ledger in order to get maximum benefit from these technologies. What that allows us to do is to take away the time these processes take, such as waiting for payment to arrive. That frees up capital trapped during the process,” said Hyder Jaffrey, head of financial technology innovation at UBS.

According to a report by a consulting firm Oliver Wyman, the world spends up to $80 billion every year to clear and settle trades.

If implemented, the new cryptocurrency would be the first to be used officially between major financial institutions. The concept resembles the IMF’s Special Drawing Right (SDR), introduced in 1964. Based on a basket of currencies (the US dollar, euro, the Japanese yen, pound sterling and the soon to be joined Chinese yuan this October), it is used to supplement the IMF’s member countries’ official reserve. As of March 2016, 204.1 billion SDRs equivalent to about $285 billion had been created and allocated to countries.

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A Trump presidency would benefit these businesses www.cnn.com

If Donald Trump is the next president, investment bank UBS (UBS) says these five industries will likely "flourish."
Retail & Restaurants: Trump plans to enact the largest tax cuts since World War II. That would put more money in people's pockets and likely cause folks to buy more stuff and eat out more at restaurants, argues UBS.
Banks: A key part of Trump's economic vision is to scale back regulations. He wants to scrap Dodd-Frank, the law to rein in big banks that President Obama signed after the financial crisis. Banks like JPMorgan have complained loudly that Dodd-Frank has hurt their profits. UBS says getting rid of the law (or even just parts of the law) could boost the financial sector's bottom line. Interest rates are also expected to be higher under Trump.
Energy: Energy and tobacco might see a boost from a Trump presidency as well if he scales back regulations. Trump has talked about how he wants to "unleash" America's energy potential. The U.S. is already on track to be energy independent by as early as 2020 because of the explosion of oil and natural gas drilling in recent years.
Defense: UBS expects both Trump and Hillary Clinton would be positive for the defense industry. Both candidates have voiced support for military spending, although Trump mentions it more often. Clinton's website says she supports "sustainable" military spending.

SAVINGS RATES BY SAVINGS RATES BY
Despite these headline winners, UBS predicts stocks and bonds will tank if Trump wins.
"Markets in general are apt to do better under a Clinton Administration," says UBS.
The problem is Trump's tax cuts are coupled with policies that make businesses nervous. There's concern Trump would start a trade war and restrict immigration to the point companies can't get the workers they need. On top of that, Trump's policies are expected to add heavily to the U.S. debt.

The National Associates of Business Economics came to a similar conclusion when it surveyed over 400 of its members and found the vast majority believe Clinton would be the best candidate for the U.S. economy. Trump actually came in third in the NABE poll, behind Libertarian Gary Johnson.
According to UBS, the best case scenario for investors is Clinton winning the presidency and Republicans maintaining control of at least the House of Representatives. A Democratic sweep of the White House and Congress could cause the biggest headaches for all businesses.
"Who controls the House and Senate -- and by what margin -- will therefore matter every bit as much to investors as who sits behind the desk in the Oval Office," wrote UBS.

 
 
 
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Honda to launch revamped NSX supercar in Japan www.nhk.or.jp

Honda Motor says it will revamp its luxury sports car NSX for release in Japan next year.

The company's first new model in Japan in about 10 years will hit the market in February. Prices start at around 240,000 dollars.

The vehicle is produced in the US state of Ohio. It has a hybrid system with a 581-horsepower engine and 3 electric motors to achieve powerful acceleration and high fuel economy.

After it debuted in 1990 in Japan, the NSX, with its powerful engine and aluminum body, became popular. But production was halted due to an economic slump and tighter environmental regulations.

Honda President Takahiro Hachigo says the automaker's principle is to continue making daily-use cars and those that focus on the joy of driving. He says reintroducing the NSX will help make the Honda brand more attractive.

Sports cars are becoming popular among young people and veteran drivers.

Competition in the market is heating up. Honda's domestic rivals Toyota and Nissan have also launched new models.

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Scientists: Earth-like planet discovered www.nhk.or.jp

A group of scientists say they have discovered a potentially habitable planet around the nearest fixed star to Earth. The planet is about four light years away.

The group led by an astronomer at Queen Mary University of London used an observatory in Chile to study the fixed star, Proxima Centauri, first from 2000 through 2008 and again this year.

The team found that the planet 1.3 times the mass of Earth is orbiting the star. The group said the distance from Proxima Centauri allows liquid water to exist on the surface of the planet.

Numerous planets have been discovered beyond our solar system. But this is the first time that a planet similar to Earth has been found circling the star closest to Earth.

The team said currently available observation equipment is insufficient to establish whether the planet has water, an atmosphere, and other elements necessary for life.

Astronomers from the group hope a new space telescope, to be launched by the US space agency NASA next year or later, will help determine the existence of life on the planet.

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Guangzhou Auto starts building 240-mln-USD Xinjiang plant www.xinhuanet.com

URUMQI, Aug. 24 (Xinhua) -- Guangzhou Automobile Group Co., Ltd on Wednesday started construction of its assembly plant in northwest China's Xinjiang Uygur Autonomous Region.

With an investment of 1.6 billion yuan (240 million U.S. dollars), the plant has a designed annual production capacity of 100,000 cars and will create 1,500 jobs.

Located in the Urumqi economic and technological development zone, the plant is scheduled to begin production of gasoline and electric cars as early as the end of 2017, said Zeng Qinghong, general manager of Guangzhou Automobile Group.

Zeng said the plant will supply western Chinese regions and central Asian countries.

Zhou Yawei, a member of the Standing Committee of the Guangzhou Municipal Committee of the Communist Party of China, said the investment answers the central government's call to help Xinjiang's development and push forward the Belt and Road Initiative.

 
 
 
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