1 US TRADE WAR COULD COST GLOBAL ECONOMY $430 BILLION, IMF WARNS WWW.RT.COM PUBLISHED:2018/07/18      2 US PLANS G7 TALKS ON CHINA WWW.NHK.OR.JP PUBLISHED:2018/07/18      3 GOOGLE HIT WITH RECORD EU FINE OVER SHOPPING SERVICE WWW.BBC.COM PUBLISHED:2018/07/18      4 TURQUOISE HILL ANNOUNCES SECOND QUARTER 2018 PRODUCTION AND COMPLETION OF SHAFT 5 WWW.GOGO.MN PUBLISHED:2018/07/18      5 DEVELOPMENT OF BILL ON CIVIL SERVANT CODE OF CONDUCT FINALIZED WWW.GOGO.MN PUBLISHED:2018/07/18      6 CRUDE OIL EXPORTS GENERATED 94.3 BILLION WWW.GOGO.MN PUBLISHED:2018/07/18      7 MONGOLIAN PRESIDENT SUMMONS IRREGULAR PARLIAMENTARY SESSION WWW.NEWS.MN PUBLISHED:2018/07/18      8 JEFF BEZOS IS NOW WORTH MORE THAN BILL GATES AND LARRY PAGE COMBINED WWW.CNN.COM PUBLISHED:2018/07/17      9 APARTMENT COMPLEX FOR YOUNG FAMILIES UNDER CONSTRUCTION IN ERDENET WWW.MONTSAME.MN PUBLISHED:2018/07/17      10 NUM GRADUATES INVITED TO WORK FOR TOSHIBA CORPORATION WWW.MONTSAME.MN PUBLISHED:2018/07/17      ГЕРМАНЫ “ЧИНГИС ХААН” ХАМТЛАГ ИРЭХ ОНД МОНГОЛД ТОГЛОЛТОО ХИЙНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/18     АНУ, ОХУ ХҮЙТЭРСЭН ХАРИЛЦААНДАА ЦЭГ ТАВИЛАА WWW.UBINFO.MN НИЙТЭЛСЭН:2018/07/18     ХУДАЛДААНЫ ДАЙН ХЯТАДЫН КОМПАНИУДАД НӨЛӨӨЛЖ ЭХЭЛЖЭЭ WWW.NEWS.MN НИЙТЭЛСЭН:2018/07/18     МОНГОЛД 92 ОРНЫ 9.6 МЯНГАН ГАДААДЫН ИРГЭН АЖИЛЛАЖ БАЙНА WWW.EAGLE.MN НИЙТЭЛСЭН:2018/07/18     ГАДААД ХУДАЛДААНЫ НИЙТ БАРАА ЭРГЭЛТ 6,3 ТЭРБУМ АМ.ДОЛЛАРТ ХҮРЧЭЭ WWW.DNN.MN НИЙТЭЛСЭН:2018/07/18     ЕВРОПЫН ХОЛБОО ЯПОН УЛСТАЙ ЧӨЛӨӨТ ХУДАЛДААНЫ ГЭРЭЭ БАЙГУУЛАВ WWW.MEDEE.MN НИЙТЭЛСЭН:2018/07/18     АЖ ҮЙЛДВЭРЖИЛТИЙН ЭРЧ СУЛАРЧЭЭ WWW.ZGM.MN НИЙТЭЛСЭН:2018/07/18     МӨНГӨНИЙ НИЙЛҮҮЛЭЛТ 3.8 ИХ НАЯД ТӨГРӨГӨӨР НЭМЭГДЖЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/18     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    

Events

Name organizer Where
"Open to Export" ICC WTO International business award ICC WTO London

NEWS

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Child Allowance to reach 80 percent of all children www.montsame.mn

Ulaanbaatar /MONTSAME/ The Cabinet decided to grant Child Allowance benefit to 80 percent of children aged 0-18, registered in the household database.

During its regular meeting on April 4, the Cabinet framed a draft resolution on its decision, which will be submitted to the Parliament in the near future.

According to the resolution, the fund required for distribution of the benefit starting from April 1 will be included in the 2018 Budget of the General Budget Administrator and will be allocated in the annual Budget starting from 2019.

The 80 percent coverage of the Child Allowance benefit will add 228 thousand children to the current list of benefit recipients, making the total number 860 thousand.

It has been estimated that MNT 41 billion will be needed to cover 80 percent of the registered children. The Cabinet sees that it is possible to distribute the benefit without making amend to the 2018 State Budget.
Kh.Aminaa

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Turkish Prime Minister to visit Mongolia www.news.mn

Binali Yildirim, the Prime Minister of Turkey will make an official visit to Mongolia on 6-8 April, at the invitation of his counterpart U.Khurelsukh.

During the visit, it is planned that the two prime ministers will discuss cooperation in agriculture, light industry, tourism, road and infrastructure projects.

In Ulaanbaatar, the Turkish Prime Minister is expected to met Mongolian President Kh.Battulga and M.Enkhbold, Speaker of Parliament.

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Exploration license bidding to commence this month www.gogo.mn

Open bidding for mineral exploration license grants to commence in April, according to Mineral Resources and Petroleum Agency of Mongolia. A total of 8.6 million hectares of area, approved by the resolution of the Ministry of Mining and Heavy Industry, have been discussed in each respective aimags and submitted to the Cabinet.

Open bidding will be announced on the lands approved by the selection. Within the frames of the amendments to Minerals Law of Mongolia, the exploration licenses will be granted only through biddings. Consequently, the highest bidder from companies seeking to obtain a license will be appraised from the scale of up to 45 points and their experience and ability will be evaluated from up to 55 points.

Presently, the Ministry of Mining and Heavy Industry is studying the opportunity to grant exploration licenses through application procedures, instead of bidding.

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ADB agrees $207m deal with Mongolia www.publicfinanceinternational.org

The Asian Development Bank and the government of Mongolia have signed agreements worth $207m to help improve air quality, education and inclusiveness.

The agreement comprises three loans and one grant as part of three projects in Mongolia.

Fernandez Lommen, ADB country director for the East Asian country, said the projects aligned with the ADB’s strategy for Mongolia which “supports government efforts to foster inclusive growth and ensure opportunities for all, particularly people from disadvantaged backgrounds”.

“We are ready to work closely with the government of Mongolia to improve education quality while also helping address the country’s most pressing problem, which is air pollution, to help improve people’s quality of life.”

The loan for air quality, worth $130m, will focus on various key reform areas, including strengthening the regulatory framework for reducing air pollution and greenhouse gas emissions in the country.

The second project aims to improve people’s access to quality education by narrowing the gap in the number of children going to school.

It will also support reforms in the curriculum, help train teachers, managers and local education administrators, as well as improve teaching and learning materials.

The third project will focus on early identification of children with disabilities through medical and social interventions, the bank said.

It will also improve service delivery for people with disabilities. The loan will be supported by a $2m grant from the Japan Fund for Poverty Reduction.

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Sick Perth businessman in Mongolia jail hell appeals for aid from Foreign Minister Julie Bishop www.thewest.com.au

The family of a Perth businessman facing seven years in a Mongolian jail are looking to Foreign Minister Julie Bishop to intervene as they fear he may not survive due to ill health.

Mohammed Munshi was sentenced to 11 years jail for criminal fraud last July and lost his first appeal in November. Last month he lost what may be the final appeal possible in the Mongolian justice system, but had his sentence reduced to seven years.

Munshi had been chairman of Gobi Coal, a developer of two coal mines in southern Mongolia, when authorities seized his Australian and British passports in March 2015. His family have not seen him since because they have not felt safe travelling to Mongolia.

His passports were seized a month after Gobi Coal obtained an order in a Hong Kong arbitration for a Mongolian businessman to repay a $US11.5 million loan, according to a complaint lodged with the UN Human Rights Council by Munshi’s Perth-based lawyer.

The complaint alleged the brother of the businessman who lost the arbitration instigated the action, and subsequent fraud charges, against Munshi.

Munshi’s son Arif Munshi said the Department of Foreign Affairs and Trade had told the family for three years that there was nothing they could do while the legal process was under way.

Now the legal options appear exhausted, the family see the best hope in government-to- government intervention at ministerial level to secure a pardon from the Mongolian President on health grounds.

Arif Munshi said his 57-year-old father’s health problems included lower back pain that needed an operation, severe varicose veins which put him at high risk of deep vein thrombosis and an enlarged prostate.

The family say Ms Bishop agreed to meet with them this month.

Arif Munshi said the consular assistance had been limited to monthly joint visits to his father, a dual UK-Australian national, by British and Australian embassy staff.

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Ambassador of UK to Mongolia presents Letter of credence www.president.mn

The Ambassador Extraordinary and Plenipotentiary of the United Kingdom to Mongolia, Mr. Philip Malone presented his credentials to the President of Mongolia, Mr. Khaltmaagiin Battulga on April 3rd.

In regard to his accepting of Mr. Malone’s letter of credence, President Battulga received the newly assigned Ambassador for a bilateral meeting.

Beginning the meeting, Mr. Philip Malone expressed his gratitude for the solemn reception and hospitality. Previously, Mr. Malone worked as minister at the UK Embassy in Singapore, charge d’Affaires at the Embassy in Helsinki and the Ambassador Extraordinary and Plenipotentiary to Laos. The Ambassador expressed his belief that, although it is his first visit to Mongolia, his diplomatic experience will contribute to the future cooperation.

President Battulga, beforehand, wished Ambassador Philip Malone success in his career, and said “Having established diplomatic relations in 1963, UK is the first among western countries to have diplomatic ties with Mongolia. I would like to congratulate you on the 55th diplomatic anniversary, being marked this year. I am grateful for the fact that Mongolia and UK have built a concrete fundament on which the friendship and cooperation can prosper and for the flourishment of bilateral cooperation in many areas.”

Mentioning that bilateral trade turnover has reached more than USD 680 million which is “not a sufficient performance”, the President asked Ambassador Malone to attach more importance to intensifying economic interaction. The head of state also suggested the Ambassador to travel through all 21 aimags of Mongolia, and explained that it will help him get more understanding about our nomadic culture and the people, as well as it might assist in making more favorable and effective decisions.

In response, Mr. Philip Malone expressed that he accepts President Battulga’s advice, and discussed the possibilities of cooperation in not only economy but in many areas starting with culture and education.

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US proposes tariffs on 1,300 Chinese goods www.cnn.com

The Trump administration on Tuesday published a list of about 1,300 Chinese exports that could be targeted for tariffs.

The United States plans to apply the tariffs to about $50 billion worth of goods to punish China for its theft of trade secrets, including software, patents and other technology. A 25% tariff would be applied to all the products, according to the US Trade Representative, a wing of the White House.

Many of the tariffs would target the Chinese aerospace, tech and machinery industries. Others would target medical equipment, medicine and educational material, such as bookbinding equipment.

In a statement, the Chinese embassy in the United States said that China "strongly condemns and firmly opposes" the proposed list.

"As the Chinese saying goes, it is only polite to reciprocate," the embassy said, adding that China intends to pursue the matter with the World Trade Organization and enact "corresponding measures of equal scale and strength against U.S. products."

The tariffs won't go into effect immediately. The administration will hold a public hearing for US businesses on May 15. Even after that, it's not clear when the tariffs would be applied.

China tariffs: Artificial teeth, flamethrowers and other things on the list

US business advocates said the administration diagnosed the problem with China correctly, but had the wrong remedy.

"The administration is rightly focused on restoring equity and fairness in our trade relationship with China. However, imposing taxes on products used daily by American consumers and job creators is not the way to achieve those ends," said Myron Brilliant, executive vice president of the US Chamber of Commerce, an advocacy group that has long been opposed to Trump's trade policy.

A lobbying group for US farmers pleaded with the administration not to go forward with the tariffs, fearing retaliation by China, one of the largest buyers of US crops.

"We continue to urge the administration to listen to farmers across rural America who can't afford new taxes on their exports," Max Baucus, a former Democratic senator from Montana and co-chairman of Farmers for Free Trade, said in a statement.

Related: China to US: We'll match your tariffs in 'scale' and 'intensity'

The list came hours after China's Foreign Ministry insisted it would respond with equal measure to any US tariffs. China said it has its own list of American exports that it will target if the United States goes through with its plan.

"We have been saying that China wouldn't start a trade war," a Foreign Ministry spokesperson said in Beijing. "But we are not afraid of it, and we will resolutely fight to the end if someone insists on a war."

Leaders from both countries have been in talks for more than a week to try to make compromises and provide US companies more rights in China.

After a months-long investigation, the USTR concluded that China forces US tech companies that want to operate there to enter joint ventures with Chinese businesses and share their technology. Chinese firms often steal patents and software from the American firms, the investigation found.

Related: How much has the US lost from China's IP theft?

There is little dispute in the United States that China does not play by the rules when it comes to tech trade. The debate in Washington is about the best way to punish China without hurting American consumers.

The United States had promised that the proposed tariffs would hit Chinese tech, aerospace, communications and machinery. But the list released Tuesday includes some unexpected items, such as malaria test kits, hearing aids, defibrillators, flame throwers, syringes, artificial teeth and X-ray machine equipment.

The USTR also proposed tariffs on Chinese-made military rifles, shotguns and grenade launchers. Turbo jet engines and certain helicopters are among those slated in Chinese aerospace to be hit with a duty. Several drilling machines are on the list as well.

The Trump administration has already imposed a 25% tariff on imported steel and a 10% tariff on imported aluminum. Those tariffs apply to most countries, including China, though some have been exempted.

China responded to the metal tariffs with its own tariffs on $3 billion of US exports to China, including fruits, wine, nuts and pork.

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British miner about to start pouring silver in Russia www.mining.com

Silver Bear Resources (TSX:SBR) announced that construction of its Mangazeisky project in Russia is almost done and that plans to go forward with a first silver production early in the second quarter of 2018 are on track.

Mangazeisky is located 400 km north of Yakutsk, in the eastern Republic of Sakha, and covers an area of approximately 570 square kilometres. The property includes the high-grade Vertikalny deposit which, according to Silver Bear, is amongst the highest-grade silver deposits in the world.

In a press release, the company said that in preparation for the commencement of work at the mine, early stage commissioning has produced silver powder product through the processing plant.

"Mining operations continue with approximately 12,000 tonnes of ore having been stockpiled by the end of 2017 ready for production. Approximately 2,000 tonnes were utilized in early commissioning testing in 2018," the statement reads.

The London-based firm said that, for the remaining of the year, it plans to target new areas of significance to grow the project's resources, as well as look for potential M&A with the idea of developing other resources into producing operations.

 
 
 
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Mongolia requests support from World Bank on developing securities market www.gogo.mn

According to the Parliament, Damba-Ochir Dorjdamba, Head of the Parliamentary Standing Committee on Economy requested the World Bank to focus on developing securities market and direct investment by supporting effective projects of the private sector, in response to World Bank's Country Manager for Mongolia James Anderson's enquiry on preferred sector for support, which was requested to formulate World Bank's strategy in the next four years.

In connection to his appointment, Deepak Mishra, Director General of Development Economy and Investment of the World Bank Group, requested the Mongolian Government official to exchange views on Mongolia’s economic and financial situation, which was held yesterday.

During the meeting Mr Damba- Ochir provided details on current situation of Mongolia’s economy, fiscal and monetary policies. For example, he noted that the 2018 budget was approved with 8 percent deficit, 2017 budget revenue has exceeded the target level, growth reappeared in the economy, revision of Laws on Banking and Central Bank were passed, as well as information on laws which will be discussed during the spring session.

In addition, Mr Damba-Ochir briefed on the long-term projects and programs to be implemented with low-interest development loans and financing of large projects that will contribute to the country’s economy and exchanged views.

Mr Deepak Mishra emphasized that the World Bank Group signifies the percentage of government's debt to the GDP in granting loans and funds to countries, as well as expressing his proposal to keep the debt amount at appropriate level in the future.

Oyunbayar.N

 
 
 
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Mongolia mining corruption probe snares former PM www.ft.com

A Mongolian investigation into allegations of corrupt mining payments has ensnared a former prime minister who has been asked to return from the US to answer prosecutors’ questions.

Saikhanbileg Chimed, prime minister for two years until 2016, is the highest-ranking official to have been implicated in the probe, which dates from revelations in the leaked Panama Papers of transfers to a Swiss bank account in the name of Bayartsogt Sangajav, the former Mongolian finance minister. Swiss authorities froze the account in January.

Over the weekend, Mongolian authorities arrested Mr Bayartsogt and two other former officials with ties to Erdenes Mongol, the state-owned holding company set up to contain Mongolia’s shares in mining projects including the Oyu Tolgoi copper mine and the Tavan Tolgoi coking coal deposit. They also requested Mr Saikhanbileg return from the US. Mr Saikhanbileg could not be contacted for comment.

Turquoise Hill, the Canada-listed subsidiary of Rio Tinto which is developing a $5bn underground stage of the Oyu Tolgoi mine, has previously said it received a request for more information by the Mongolian anti-corruption authorities.

The request for information concerned the “possible abuse of power by authorised officials” during the negotiation of the 2009 Oyu Tolgoi investment agreement, shortly after Rio took over negotiation of the Oyu Tolgoi project from Ivanhoe Mines, the original developer.

Mr Saikhanbileg signed the agreement to develop the second, underground phase of the mine, which economists said was necessary for the Mongolian government to meet its budgetary commitments. Negotiations over the first phase of the giant mine were also fraught, with rancour on both sides and repeated changes to Mongolia’s mining investment regime, once the most liberal in the world.

Swiss prosecutors have said the investigation was not directed against Rio or its employees. Rio Tinto declined to comment on Tuesday.

“The Mongolian government and public is slowly beginning to build up capacity to analyse its relationship with Oyu Tolgoi and with Rio Tinto as an investor and to ask questions about that relationship in the process,” said Julian Dierkes, an expert on Mongolian civil society at the University of British Columbia.

Mr Saikhanbileg’s departure from office in 2016 was marred by the contentious $400m purchase of nearly half of the giant Erdenet copper mine in Mongolia’s north from Russian holding company Rostec, which returned the entire mine to Mongolian ownership.

Erdenet long had symbolic value as the Soviet Union’s most important investment in Mongolia but has been plagued by allegations of mismanagement and corruption. The previously unknown private company that bought the stake, Mongolian Copper Corp, is fighting the Mongolian government’s decision in February 2017 to nationalise the stake bought from Rostec.

Bayanjargal Byambasaikhan, former chief executive of Erdenes Mongol, told the Financial Times in 2016 that the holding company would have trouble establishing control over the state’s share in Erdenet due to the complexity of the politics surrounding that mine. Mr Byambasaikhan was one of the people arrested this weekend.

In a statement on Tuesday, the Business Council of Mongolia, an organisation chaired by Mr Byambasaikhan, noted that he had returned to Mongolia from a posting at the Asian Development Bank in 2010, after the 2009 investment accord for the Oyu Tolgoi mine. “The BCM Executive Committee has full confidence in Byambasaikhan’s integrity,” it said.

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