|Frontier's "Invest Mongolia Tokyo 2018"||Frontier Securities||Tokyo Japan|
|"Open to Export" ICC WTO International business award||ICC WTO||London|
PM Modi holds bilateral talks with presidents of Kazakhstan, Kyrgyzstan and Mongolia www.tribuneindia.com
Prime Minister Narendra Modi on Sunday held separate bilateral talks with presidents of Kazakhstan, Kyrgyzstan and Mongolia on the sidelines of the SCO summit here to further strengthen India's ties with the three resource-rich countries.
India attaches great significance to ties with Kazakhstan. Had a wonderful meeting with President Nursultan Nazarbayev on the sidelines of the SCO Summit, Modi said in a tweet.
Modi met Nazarbayev and invited his country to join the International Solar Alliance, an initiative announced in 2015 whose primary objective is to work for efficient exploitation of solar energy to reduce dependence on fossil fuels.
"Prime Minister Narendra Modi invited Kazakhstan to join the International Solar Alliance and the President of Kazakhstan responded positively," said Ruchi Ghanashyam, Secretary (West) in the Ministry of External Affairs (MEA).
Modi also met President of Kyrgyzstan Sooronbai Jeenbekov on the sidelines of the summit.
"Glad to have met the President of Kyrgyzstan, Sooronbay Jeenbekov. We deliberated on ways to add strength to our vibrant bilateral partnership," Modi tweeted.
He also held bilateral talks with Mongolia President Mongolia Khaltmaagiin Battulga.
"Strategic partnership based on deep civilizational, historical and cultural linkages! PM Modi met the President of Mongolia Khaltmaagiin Battulga on the sidelines of SCO Summit in Qingdao," said MEA spokesperson Raveesh Kumar.
Modi held nearly half a dozen bilateral meetings with leaders of other SCO countries.
Prime Minister Modi on Saturday had seperate meetings with the President of Uzbekistan Shavkat Mirziyoyev and Tajikistan President Emomali Rahmon on the sidelines of the summit here and discussed a range of topics with them to further strengthen India's ties with the resource-rich Central Asian countries. PTI
QINGDAO – The presidents of China, Russia and Mongolia pledged to strengthen trilateral cooperation during their meeting here on Saturday.
The trilateral meeting, the fourth of its kind, was chaired by Chinese President Xi Jinping and attended by Russian President Vladimir Putin and Mongolian President Khaltmaa Battulga.
The leaders reviewed the achievements of trilateral cooperation and discussed priority tasks and directions for the next phase.
Since the heads of state of China, Russia and Mongolia held their first meeting more than three years ago, the three countries have centered on aligning China's Belt and Road Initiative with Russia's development strategies, especially its transcontinental rail plan, and Mongolia's "development path" initiative, deepened cooperation and yielded results, said Xi.
The three countries are neighbors and traditional strategic partners to each other, and enjoy natural advantages and a good foundation for cooperation, he said.
As the economic globalization and regional economic integration deepen, the three countries should jointly pursue integrated, win-win development and set an example of cooperation among neighboring countries, said Xi.
For the next phase, the three sides should deepen political mutual trust and strategic coordination, enhance mutual support, respect the core interests of each other, take into consideration each other's major concerns, strengthen coordination and cooperation in regional and international affairs, and steer the course of trilateral cooperation politically, Xi stressed.
The Chinese president said the three countries should push the construction of the China-Mongolia-Russia economic corridor, actively explore cooperation in areas such as infrastructure interconnectivity, and promote sub-regional cooperation in adjacent areas of the three countries.
The cooperation and coordination within the framework of the SCO should be expanded, said Xi.
The level of Mongolia's ties with the SCO should be lifted and Mongolia is welcome to participate in SCO cooperation in a more in-depth way, said Xi.
Russia agreed to strengthen trilateral cooperation in transport, infrastructure, customs and tourism, and facilitate trade and personnel exchanges, said Putin.
Battulga said that it is Mongolia's top priority to develop friendly cooperation with the two permanent neighbors of China and Russia.
Mongolia stands ready to work with China and Russia to implement trilateral cooperation consensus and launch the China-Mongolia-Russia economic corridor construction as early as possible, while promoting cooperation in sectors such as infrastructure and energy transportation, said Battulga.
Putin and Battulga are in Qingdao for the 18th Shanghai Cooperation Organization summit.
World’s No. 2 miner Rio Tinto (ASX, LON:RIO) has joined forces with Minmetals, one of the biggest Chinese mining companies, to explore for mineral deposits first in the Asian country and then the rest of the world .
The 50-50 joint venture with state-backed Minmetals follows a technical agreement signed in November, when both parties committed to collaborative search for new ore bodies.
“The formalization of the exploration joint venture is an important milestone in our growing partnership with China and Minmetals, who is an increasingly important player in the global mining industry,” Rio Tinto’s chief executive, Jean-Sébastien Jacques, said in the statement.
The registered capital of the venture will be $31.3 million, with initial contributions of $5.5 million by each of the companies within six months of establishment of the venture, Rio Tinto said.
The partnership replaces a long-running exploration venture Rio terminated last year with its largest shareholder, Aluminum Corporation of China.
Minmetals, which mostly produces copper, zinc and nickel, but also holds reserves of iron ore, has increased its reach as of late.
The company is the majority shareholder in Australian-based miner MMG, which operates the giant Las Bambas copper mine in Peru. And market rumours indicate it may try buying out the minority shareholders of Canada’s Turquoise Hill, which is controlled by Rio and is currently developing the giant Oyu Tolgoi copper mine in Mongolia.
In the past few years, Beijing has stepped up efforts to shore up its dominance as a global metals supplier as well as to secure control of key resources to fuel its high-tech electronics industry and growing electric cars sector.
Home to around 2,600 Mongolian Americans, the city of Arlington, Virginia has one of the largest Mongolian populations in the United States, to the point that Mongolian is the third-most widely spoken language in the local school system.
The city’s large Mongolian community was one of the reasons it was selected as the destination for an exposure visit facilitated by IDLO for a delegation of Mongolian justice professionals looking to learn about different approaches from U.S. counterparts. The mixed group of ten Mongolian police officers, prosecutors, judges and academics – champions of justice working together to combat domestic violence – spent a week in Washington DC and Virginia.
Domestic violence in Mongolia
Domestic violence is a significant problem in Mongolia, and recent reports have estimated that one in three Mongolian families suffer abuse. Legislation was introduced in 2017 making it a criminal offence, and better cooperation between agencies is critical to reducing the incidence of violence by improving prosecution.
IDLO has been working in Mongolia since 2015 to strengthen the response to domestic violence and increase access to justice for survivors. Supported by the U.S. Department of State, IDLO’s current program is focused on building the professional capacity of first responders through targeted training and improved regulation to formalize coordination efforts.
"The exposure visit gave the Mongolian representatives an opportunity to exchange ideas and compare activities with their counterparts in the U.S.,” explained Oyunchimeg Dash, IDLO’s Field Program Manager in Mongolia. “The coordinated approach they observed in U.S. institutions and organizations constitutes good practice and will help them determine future objectives. But Mongolian law enforcement is on the right path; a lot of international best practice is already being implemented in the country.”
Ulaanbaatar /MONTSAME/ The ‘Mongolia-Russia Initiative-2018’ series of events has begun in Ulaanbaatar today, on June 7. The purpose of the event is to enrich the strategic partnership of Mongolia and Russia, promote the development of trade, economic and cultural cooperation, strengthen ties between the two governments and business entrepreneurs, discuss new opportunities for cooperation and improve entities and individuals’ understanding of the other country.
In frames of the ‘Mongolia-Russia Initiative – 2018’ series of events, Mongolia-Russia Economic Forum is taking place in the State Palace. President of Mongolia Kh.Battulga delivered a speech at the opening ceremony of the Forum, noting that Mongolia is interested in the intensive development of bilateral and trilateral cooperation with Russia. He emphasized that the enrichment of the strategic partnership of Mongolia and Russia with new economic content is of utmost importance and stressed that the Mongolia-Russia-China Economic Corridor Program needs to be intensified.
At the opening ceremony, Aide to the President of Russia, State Advisor of the Russian Federation I.E.Levitin red the President Vladimir Putin’s letter for the ‘Mongolia-Russia Initiative-2018’. President Vladimir Putin sent his congratulations on opening the important event to promote Russia-Mongolia strategic partnership and highlighted that Russian attaches special significance to the development of Russia-Mongolia relations.
Foreign Affairs Minister of Mongolia D.Tsogtbaatar, Minister of Food, Agriculture and Light Industry B.Batzorig, Russian Ambassador to Mongolia I.K.Azizov, Russian Deputy Minister of Energy K.V.Molodtsov and other officials delivered presentations at the general session of the Economic Forum.
In his presentation, Foreign Affairs Minister D.Tsogtbaatar proposed to conclude a Free trade agreement between Mongolia and the Eurasian Economic Union, intensify cooperation between public and private sectors of the two countries and increase the advertising and marketing channels for SMEs in order to make substantial progress in trade and economic cooperation between Mongolia and Russia.
Prime Minister U.Khurelsukh held a meeting with new Russian Minister of Industry and Trade Denis Manturov at the State Palace on June 7 to delve into future plans for trade and economic cooperation between Russia and Mongolia.
The prime minister expressed his satisfaction with Mongolia’s most recent successful cooperation with Russia in a wide range of issues, especially in trade and economic sectors, as trade turnover between the two countries increased by 37 percent last year compared to 2016.
He noted that as a railway transit transportation agreement between the governments of Russia and Mongolia, which aims to enhance cooperation on freight transportation trade between the two countries by promoting a flexible tariff policy for 25 years, will be signed soon, the agreement will have a significant impact on mutual trade and economic cooperation.
The main advantages of the agreement are to facilitate border checkpoint procedures on transit freight, increase freight volumes, stimulate infrastructure development of railway transport and help support Mongolian exporters to overcome maritime transport obstacles.
Prime Minister U.Khurelsukh pointed out that Mongolia is looking forward to diversifying the types of its goods being exported to Russia, increasing exports of its meat and meat products, establishing a meat processing factory that will produce products that meet Russian standards for meat imports, and collaborating with Russia to carry out a joint project in the cashmere industry.
The Russian minister emphasized that the country pays a great deal of attention on its relations and cooperation with Mongolia, especially in culture, trade and economic cooperation.
Minister Manturov stated that Mongolia is interested in exporting goods that are in demand in the Mongolian market, opening a leather processing factory in Mongolia, supplying agricultural technology and equipment, and helicopters, and collaborating with Mongolia to implement projects to increase the capacities of Thermal Power Plant No.3 and Ulaanbaatar Railway, and build a highway in Mongolia.
Mongolian man hoping to replicate Food Rescue Northland programme in Ulaanbaatar www.nzherald.com.nz
A Mongolian man has been scoping out Food Rescue Northland's operation before he heads home to set up something similar.
Zorigt Bayantur hails from the Mongolian capital Ulaanbaatar, and has been living in New Zealand for four years with his wife Undariy Tumursukh and sons Arikhat Zorigt, 12, and Anand Zorigt, 6.
Turmursukh has been completing her PhD at AUT in Auckland, and it was during that time she got to know Whangarei's Carol Peters. The pair, and their families have become friends.
Peters set up Food Rescue Northland last year which collects surplus food from Whangārei growers and retailers and distributes it to community groups who support people in need.
Bayantur said Peters told him about the project and it struck a chord with him.
"We could do the same in Mongolia."
The country had a democratic peaceful revolution in 1990, which saw the country move out of its socialist economy.
Bayantur said it is a transition which is ongoing.
"Some cope with the transition, some not."
He said many people live in gers around the city. A ger is a traditional nomadic tent which has no central heating, water, sanitation or infrastructure.
"I see there is a need. Food is very important to us because of the weather conditions," he said.
Temperatures can range from 30C to minus 30C. He said it is very hard to grow apples and other vegetables out in the open, but cucumbers and tomatoes can be grown in green houses.
"Everything else is imported from China."
He said as a result the shelf life of these products can be "fragile". He said meat is not a problem because there are plenty of cattle in the country, but he wants to see better nutrition for people in Mongolia.
Bayantur looked closely at how Food Rescue manager Peter Nicholas uses the website to manage the food and its distribution. Bayantur and his family are moving back to Mongolia next month and he plans to see where there's available food and start building relationships with people.
"I see a clear picture. I have some ideas, I have to work on the ideas and see whether it's feasible or not."
ULAN BATOR, June 7 (Xinhua) -- Mongolia is willing to diversify its exports to Russia, Mongolian Prime Minister Ukhnaa Hurelsukh said here Thursday.
Hurelsukh made the remarks when meeting with a visiting Russian delegation led by Trade and Industry Minister Denis Manturov.
"Mongolia is interested in diversifying its export products to Russia," the prime minister told his Russian guests. "In particular, we want to increase the export of meat and meat products," he added.
In this regard, he called on the Russian side to cooperate with Mongolia on a project called "Wool" and set up a joint meat processing plant that meets Russia's requirements and standards.
Manturov, for his part, said the Russian government is willing to import highly demanded goods from Mongolia, build an aircraft assembly plant as well as a leather and hide processing facility.
Moreover, Russia plans to export agricultural equipment and helicopters to Mongolia, Manturov said. The country will also take part in the renovation and extension works of the Mongolia's 3rd Thermal Power Plant and the Ulan Bator Railway, as well as the construction of a highway, according to Manturov.
The Russian delegation arrived here Thursday to attend the "Mongolia-Russia Initiative 2018," an event aimed at strengthening bilateral ties and cooperation.
Gold slipped back below $1,300 an ounce on Wednesday and is now trading flat for 2018, but investors in gold-backed exchange traded funds continue to see opportunity in the yellow metal.
New data from the World Gold Council show retail and institutional investors in gold ETFs poured a net $771.3m into global funds in May, despite a pullback in the US, the largest market.
Global vaults now hold around 2,484 tonnes or a shade under 80m troy ounces after net inflows in May of 14.6t brought the year to date total tonnes acquired to 116.3.
US investors dumped nearly 30 tonnes in May, but the outflows were cancelled out by continued buying by Europeans and a surge in buying in Asia.
After spending $820m Asian bullion bulls added nearly a fifth to holdings in 2018. Although it's still a fraction compared to Western markets at just over 100 tonnes.
2016 was the best year for funds since 2009 with global net purchases of more than 500 tonnes, primarily thanks to European bullion investors. In dollar terms 2016 was the most successful year for the industry which first emerged in Australia in 2003.
Total global gold bullion holdings hit a record 2,632 tonnes or 93 million ounces in December 2012.
The big five European leagues generated a record €14.7bn (£12.6bn) in revenue in 2016-17, a 9% annual increase, according to new figures from Deloitte.
It says the European football market is now worth some €25.5bn (£21.9bn).
The English Premier League was the market leader, with record revenue of £4.5bn, as each of the 20 clubs set their own annual revenue record.
In revenue terms, the Premier League is 86% larger than its nearest competitor, Spain's La Liga.
Deloitte said the financial results of the 2016-17 football season reflected a new era of improved profitability and financial stability for European football clubs.
'Resilience and strength'
It said the Premier League had benefited from the impact of its record broadcasting deals, as well as from operating in a regulated business environment, via Uefa Financial Fair Play regulations and the league's own cost control measures.
"Just a decade ago, 60% of Premier League clubs were making an operating loss, whereas in the 2016-17 season, all clubs were profitable," said Dan Jones, head of Deloitte's sport business group.
"In addition, and for the first time ever, Premier League clubs' revenues have grown at a faster rate than wages over a 10-year period."
He said that although the sale of the Premier League's domestic TV rights for the 2019-20 to 2021-22 seasons did not deliver the expected financial increase, this should not be a cause for concern.
"The fact that the Premier League has once again shown its resilience and strength by retaining the vast majority of its audience and value has provided market leading financial security to clubs for at least the next four years, providing they are not relegated," Mr Jones added.
"Indeed, once the sales process for the remaining international rights is completed, we expect the league will have delivered overall increases in television revenue."
Other findings regarding English football finances in 2016-17 include:
The top 92 Premier League and Football League clubs generated a record £5.5bn in revenue
Premier League clubs' revenues increased to £4.5bn, an increase of 25% as the first year of a new broadcast rights cycle saw clubs paid between £95m and £150m in central distributions
All top-flight clubs made an operating profit
Championship clubs generated record combined revenues of £720m, a 30% increase from 2015-16. The three newly relegated clubs generated almost one-third of this total revenue
It is now more than five years since an English football club entered insolvency proceedings, reflecting better financial discipline and the positive impact of regulation
The 92 Premier League and Football League clubs contributed £1.9bn to the UK government in taxes (2015-16: £1.6bn).
Meanwhile, Scottish Premiership revenues increased by 63% to £181m in 2016-17, driven by the on-field success of Celtic, and Rangers' participation in Scotland's top-flight.
Celtic's participation in the 2016-17 Uefa Champions League contributed €32m, more than the amount distributed across all 12 clubs from the Scottish leagues' own broadcast revenues in 2016-17.
Aggregate match-day and commercial revenues both increased by more than 40%, as Rangers participation in the top division helped to drive Scotland's top tier back into the top 10 revenue generating leagues in Europe.
Outside the UK, the success of La Liga's collective sales approach saw broadcast revenue growth of 20%.
That followed on from 26% growth in the 2015-16 season, has meant collective La Liga revenue grew to a record €2.9bn in 2016-17.
The Spanish league has overtaken the Bundesliga to be the world's second-highest revenue-generating league.
Meanwhile, the German Bundesliga remained the best attended European league, with average crowds of over 44,000.
Bundesliga clubs collectively maintained their strong overall revenue growth, up 15% from 2015-16 to €1.4bn.
Italy's Serie A saw revenue grow by 8% to more than €2bn for the first time. The majority of this growth came from commercial sources, with revenue increasing by €91m (17%) on 2015-16,.
More than three-quarters of this was was solely attributable to Internazionale, following the club's acquisition by Chinese electronics retailer Suning in June 2016.
France's Ligue 1 remained the lowest revenue-generating of Europe's "big five" leagues, at €1.6bn in 2016-17, despite entering a new four-year domestic broadcasting rights cycle....