1 MONGOLIA'S TOURISM REVENUE INCREASES BY 20 PERCENT WWW.NEWS.MN PUBLISHED:2018/07/16      2 WATER LEVELS OF MAJOR MONGOLIAN RIVERS EXCEED ALARM LINE WWW.XINHUANET.COM PUBLISHED:2018/07/16      3 CHINA SETS RECORD DAILY STEEL OUTPUT FOR THIRD MONTH IN A ROW WWW.REUTERS.COM PUBLISHED:2018/07/16      4 RUSSIAN RETAILERS, HOTELS EMERGE AS WORLD CUP WINNERS WWW.THEMOSCOWTIMES.COM PUBLISHED:2018/07/16      5 BIOGRAPHY OF TAVAN TOLGOI RESIDUAL COAL DEPOSITS WWW.ZGM.MN PUBLISHED:2018/07/16      6 NAGOYA BASHO LOSES LAST OF THREE YOKOZUNAS WWW.MONTSAME.MN PUBLISHED:2018/07/16      7 CHINA'S GDP HITS 6.7% IN Q2 OF 2018 WWW.CHINADAILY.COM.CN PUBLISHED:2018/07/16      8 US-CHINA TRADE WAR DIMS BRIGHT FUTURE FOR SEMICONDUCTORS WWW.ASIA.NIKKEI.COM PUBLISHED:2018/07/16      9 RIGHTS GROUPS URGE BETTER TREATMENT FOR MONGOLIA CHILD JOCKEYS WWW.REUTERS.COM PUBLISHED:2018/07/16      10 TPP CHIEF NEGOTIATORS TO MEET IN JAPAN WWW.NHK.OR.JP PUBLISHED:2018/07/16      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     1,5-2 САЯ ТӨГРӨГИЙН ЦАЛИНТАЙ ЖОЛООЧИЙН АЖЛЫН БАЙРНЫ БҮРТГЭЛ ЭХЭЛЛЭЭ WWW.ZINDAA.MN НИЙТЭЛСЭН:2018/07/16     ОЛОН МЯНГАН НИСЭХ ОНГОЦ ШИНЭЭР ҮЙЛДВЭРЛЭХ ШААРДЛАГАТАЙ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/16     КРИПТОВАЛЮТЫН ТАЛААРХ ХОРООНЫ БАЙР СУУРЬ ХЭВЭЭРЭЭ WWW.GOGO.MN НИЙТЭЛСЭН:2018/07/16     ОРОСЫН ЭДИЙН ЗАСГИЙН ӨСӨЛТӨД ДАШТ-2018 НӨЛӨӨЛӨХ НЬ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/16     ЗҮҮН ӨМНӨД АЗИ ХАНШАА ХАМГААЛЖ ЭХЛЭВ WWW.ZGM.MN НИЙТЭЛСЭН:2018/07/16     АЯЛАЛ ЖУУЛЧЛАЛЫН САЛБАРААС 400 ГАРУЙ САЯ ДОЛЛАР ОЛЖЭЭ WWW.DNN.MN НИЙТЭЛСЭН:2018/07/16     МОНГОЛЫН ЭДИЙН ЗАСГИЙН БҮТЭЦ ЭМЗЭГ ХЭВЭЭР БАЙНА WWW.GOGO.MN НИЙТЭЛСЭН:2018/07/10     МОНГОЛ, ВЬЕТНАМЫН ГАДААД ХАРИЛЦААНЫ ЯАМ ХООРОНДЫН ЗӨВЛӨЛДӨХ УУЛЗАЛТ БОЛОВ WWW.NEWS.MN НИЙТЭЛСЭН:2018/07/10    

Events

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

NEWS

64x64

Mongolian sales managers’ index increases www.gogo.mn

According to World Economics, the Mongolian sales managers' index increased in March, reaching 51.8 points, after previously being in decline.

The index is calculated based on the speed and direction of economic activity, and analysts say an increase is a sign of a growing economy.

As of March, the market growth index increased and reached its highest point in the last six months. World Economics also highlighted that there was an increase in the business confidence index. In February the index was at 53.4 points, but it approached almost 60 points in March. In 2016, the business confidence index was at 30 points.

...


64x64

Rio sells one of latest coal assets in Australia for $200 million www.mining.com

Mining giant Rio Tinto (ASX, LON:RIO) has agreed to sell its 75% stake in a Queensland project to Australia's Whitehaven Coal (ASX:WHC) in a deal worth $200 million.

The sale would be the second one this week, and in line with Rio’s strategic decision to exit coal to focus on iron ore, copper and aluminum.

The company noted it was in the process of offloading its remaining Australian coal asset — a stake in the Kestrel underground mine.

"We believe this agreement for the sale of Winchester South represents the best option for the future development of the project while delivering attractive value for Rio Tinto," chief executive Jean-Sebastien Jacques said in the statement.

The transaction, subject to Australian regulatory approvals, is expected to close in the second quarter of the year.

Winchester South is a large, undeveloped coal project located in the northern Bowen Basin, roughly 30km south-east of the Moranbah township. It holds 356 million tonnes of coking and thermal coal mineral resources.

According to Whitehaven, the project has the potential for an open cut mine life of 20-30 years with significant exploration potential, ROM coal production of 7.5 million to 15 million tonnes annually and product coal in the range of 3.5 million-7.5 million tonnes a year.

...


64x64

7 percent mortgage program in discussion www.ubinfo.mn

The Cabinet is considering to facilitate 8 percent mortgage program. Earlier this year, the Ministry of Finance and Bank of Mongolia (BoM) co-established a working group to prepare a draft subsidiary mortgage program with 7 percent interest rate and 25 percent downpayment, which is 5 percent lower than the current subsidized mortgage requirement. Officials perceive that the current 8 percent mortgage program has reached its target market; thus, the Cabinet has prepared a draft program for the first-time accomodation purchasers in the outskirts of Ulaanbaatar with more favorable terms. Sources claim that the program will be financed from the USD 500 million borrowing from the Republic of Korea that settled was during the Prime Minister’s visit to South Korea in January. The soft loan has a maturity date of 30 years and grace period of 10 years with an annual interest rate of 0.2 percent. Presently, around 30 thousand accommodations are ready for sale; however, the housing sales are only about 30 percent. This year, the Government and BoM set a plan to finance around MNT 300 billion to the mortgage program, which will provide around five thousand accommodations. According to Marketinfo, the mortgage program will be effective in decreasing pollution and other associated social problems. This, along with several air pollution protests last winter, will likely galvanize the Cabinet to approve the application of the program in the second quarter of 2018.

...


64x64

China ready for trade war with ‘repeat abuser’ of international norms US www.rt.com

China is readying itself for a trade war with the US as Washington reportedly plans to announce new measures against Beijing within days. Officials have been seeking support from other nations and world trade bodies.
US media reports have claimed the White House was preparing punitive measures, including tariffs on Chinese technology and telecoms commodity imports valued at $60 billion dollars, to be a announced on Friday.

That was despite the much-vaunted rapport between US President Donald Trump and China’s Xi Jinping, following the former’s state visit to Beijing last year. A fortnight ago, Trump announced tariffs on steel and aluminum imports, hitting the EU, Japan and South Korea, as well as China.

“The Chinese side never wants to fight a trade war with anybody, but if we are forced to, we will not hide from it,” Foreign Ministry spokeswoman Hua Chunying warned on Wednesday. Beijing will “definitely take firm and necessary countermeasures to defend its legal rights,” she said, as quoted by China’s Global Times.

Meanwhile, the Commerce Ministry said in a statement that Vice-Minister Wang Shouwen had slammed Trump’s new wave of protectionism at an informal meeting of ministers from 50 World Trade Organization (WTO) member-states in India earlier this week.

“Trade restriction measures will not only hurt the global trade order but also cause serious damage to the multilateral trade system,” Wang said, urging all countries to “support the global multilateral trade system and defend the authority and effectiveness of WTO rules.”

The Commerce ministry welcomed Wednesday’s WTO ruling against Obama-era anti-subsidy tariffs on Chinese goods. The decision “proves that the US side has violated WTO rules, repeatedly abused trade remedy measures, which has seriously damaged the fair and just nature of the international trade environment and weakened the stability of the multilateral trading system,” the statement said.

In the Argentine capital Buenos Aires this week, outgoing People's Bank of China governor Zhou Xiaochuan stressed China’s “continued support for multilateralism” at a summit of G20 finance ministers and central bank governors.

Chinese Premier Li Keqiang told a Tuesday press conference that the two economic powers should talk through their differences rather than impose trade restrictions. “In trade, disputes are always resolved through consultation, negotiation and dialogue. I hope both sides will act rationally rather than emotionally to avoid a trade war,” he said.

...


64x64

Organic products to be recorded in State registration www.montsame.mn

Ulaanbaatar /MONTSAME/ Discussion on draft regulation on state registration and mass consumption of organic products took place on March 21. Food producers, NGOs, scolars and researchers are taking part in the discussion being co-organized by the Ministry of Food, Agriculture and Light Industry, Food and Agriculture Department of the capital city and World Bank Export Development Project.

Suggestions and proposals of the participants on respective provisions regarding state registration and mass consumption of organic products will be reflected in the draft regulation. By approving this regulation it will be possible to register domestic and import alimentary products with the ‘organic’ and ‘natural’ labels and recall the products with counterfeit labels and non-compliant products from the market.

Moreover, it will be easier for consumers to figure out the origin of the organic products through the registration number and QR code on the label including information on where, when and which company produced it and what requirements the product meet.

“Currently all required organic food production regulations have been approved. Therefore, by approving the regulation on state registration and mass consumption of organic products in 2018, the legal environment for producing organic food will be complete” said Organic food specialist of the Ministry of Food, Agriculture and Light Industry D.Tungalag.

At the second part of the discussion an expert of the World Bank's Export Promotion Project introduced the opportunities for companies willing to shift into organic production and preparing for export market to participate in the Export Development Project. The project supports non-mining sectors and provides grants up to USD 100 thousand for organic food producers.

B.Misheel

...


64x64

Czech-Mongolia B2B seminar on April 03 www.mongolianbusinessdatabase.com

Six Czech companies offering solutions, technologies and units for the mining and energy sector will take part in the prestigious Mongolian international expo ‘Mongolia Mining 2018’ on 4-6th April 2018, with the support of the Embassy of the Czech Republic in Mongolia and the CzechTrade agency. Thanks to the project to support the economic diplomacy, Czech participants will also present at a professional business seminar organized by the Embassy of the Czech Republic in Ulaanbaatar on 3rd April 2018.

With the kind support of the our Embassy and the CzechTrade Agency, ENELEX, the manufacturer of special electronic devices for mining and power engineering, BELT & SERVICE, transportation conveyor belts and technology units for mines and power engineering, FERRIT, offering comprehensive minerals transportation solutions for all types of mines, INCO ENGINEERING, supplying mining machinery for underground mining, T MACHINERY, producer of mining machinery and hydraulic equipment, as well as, RPS OSTRAVA dedicated to supply-engineering activities in the field of coking factory and minerals purification, energy and biomass processing.

The Embassy of the Czech Republic is cordially inviting you to the specific Czech-Mongolia B2B seminar on April 03 between 15.00-18.00 at Galaxy tower's 10th floor 1003, followed by the cocktail networking.

Please RSVR at 321886 (24) 99018708.

...


64x64

AmCham Mongolia hosts a meeting with His Excellency Ch. Khurelbaatar, Minister of Finance www.gogo.mn

The American Chamber of Commerce (AmCham) in Mongolia hosted its March Monthly Meeting with Minister of Finance Khurelbaatar Chimed and other officials from the Ministry of Finance, on Tuesday, March 20, at Shangri-La Hotel Ulaanbaatar.

The meeting convened representatives from AmCham member organizations, the Ministry of Finance, and national and international businesses. Minister Khurelbaatar exchanged views with members of the business community and provided updates on the Ministry’s efforts to introduce proposed tax reforms that are focused on securing a favorable business environment and protecting the interests of trustworthy private sector players and taxpayers.

In his keynote address, Minister Khurelbaatar noted, “Today’s Monthly Meeting organized by AmCham is coming at a very timely moment. The proposed amendments to tax legislation are based on recommendations received from international organizations, and they take into account the current economic situation. In addition, the major principles of the proposed amendments relate to creating favorable investment opportunities, increasing employment, focusing on a common taxation policy, supporting trustworthy private sector taxpayers, and certain actions to take for entities and individuals that avoid paying taxes. Within the last 26 days of consultation meetings, over 2,000 proposals and comments have been received, and the ministry is currently working with professional institutions on the processing of all available data. We are planning to submit a final draft of the amendments to Parliament for review by July. The Ministry of Finance will be cooperating with AmCham Mongolia to support their efforts in supporting the private sector and attracting foreign investment.”

Chairman of AmCham Mongolia Mr. Steve Potter, while thanking the Minister for initiating such a transparent consultation process, stated, “Without a healthy and growing private sector, Mongolia will face a stagnant economy, low wages, high unemployment and a lack of funding for critical government services. We support a fair and clear tax regime that enables tax revenues while, at the same time, supports investment to expand existing business and attract new investment. We also understand the need to get the balance right between increasing the tax base and being consistent with the principles of sustainable development and investment stated by the current government. To specifically address the proposed taxation legislation AmCham, together with representatives from BCM, MNMA, and The CEO Club, has set up a special working group to support legislation that recognizes the important role played by the business sector in underpinning the growth of our economy.”

...


64x64

Mongolia, Turkey Agree To Expand Financial Cooperation www.xinhuanet.com

ULAN BATOR, Mongolia and Turkey agreed to support small and medium-sized enterprises of the two sides in the sectors economy, trade and investment, the Mongolian government press office said Wednesday.

The agreement was reached during the 8th Meeting of the Mongolia-Turkey Intergovernmental Commission on Trade and Economic Cooperation, which was held here Wednesday. During the meeting, the Mongolian National Chamber of Commerce agreed to cooperate with the Foreign Economic Relations Board of Turkey, Turkish Exporters' Assembly and Turkish Chamber of Commerce and Industry.

The two sides will organize a bilateral joint meeting this year to share experiences in establishing a free zone, Xinhua reported.

...


64x64

Mongolia minister says he expects to be cleared in mining deal graft probe www.reuters.com

ULAANBAATAR, March 21 (Reuters) - A former Mongolian minister who helped launch the landmark Oyu Tolgoi copper-gold mine in 2009 told reporters on Wednesday that he expected to be exonerated by a Swiss probe into the transfer of $10 million into his account.

As finance minister, Bayartsogt Sangajav signed the 2009 investment deal that granted 66 percent of the giant Gobi desert property to Robert Friedland's Ivanhoe Mines, now known as Turquoise Hill Resources and majority-owned by Anglo-Australian mining giant Rio Tinto.

The Swiss Office of the Attorney General (OAG) is conducting a criminal investigation into a seized account that court documents say was used to transfer $10 million to Bayartsogt in September 2008, the month he was appointed minister, Reuters reported on Monday.

Discussing the origins of the $10 million, Bayartsogt denied allegations it was connected to Oyu Tolgoi, saying it was transferred to him by an investor to support a business he had established. He declined to give the investor's name.

Mongolia's anti-corruption authority said on Tuesday that it was working with Swiss counterparts to investigate the allegations. The agency is already looking into suspected abuses of power by officials during the negotiations for the project, Turquoise Hill said in an announcement last week.

Bayartsogt said he had returned to Mongolia from his overseas studies as a result of the investigation, adding that he would remain until it was completed.

"I am happy the Mongolian Anti-Corruption Agency is collaborating with the Swiss Office of the Attorney General," said Bayartsogt during a televised press conference, adding that a joint investigation by the two countries made sense because Mongolians did not trust one another.

Since Monday, Mongolian politicians have been scrambling for details about the investigation, saying that wrongdoings should trigger a review of the 2009 deal.

Deputy mining minister Zagdjav Deleg said in remarks published on Wednesday that while the agreement had brought in $6 billion of investment, it needed to be revisited if it turned out to have been secured by graft.

"If there was corruption, the government's ownership could grow from 34 percent to 100 percent," he said in an interview published by newspaper Zuunii Medee. The ministry did not respond to requests for comment.

"In addition to the suspicion surrounding the investment agreement, there is major disagreement over the distribution of income from the project to Mongolia," Zagdjav was quoted as saying.

A spokesman for Rio Tinto, which took control over management of Oyu Tolgoi in December 2010, declined to comment when contacted by Reuters on Wednesday.

Mongolia's opposition Democratic Party, which was part of a coalition government in 2009, expelled Bayartsogt and said it was also seeking clarity from Swiss authorities.

Party Secretary Magnai Otgonjargal said the 2009 deal should be questioned if corruption was found to have taken place.

"If this is a problem with S. Bayartsogt, it is imperative that we review the agreement with Rio Tinto from Mongolia," he said.

By Terrence Edwards and Munkhchimeg Davaasharav
(Additional reporting by David Stanway in Shanghai and John Miller in Zurich Writing by David Stanway Editing by Nick Macfie)

...


64x64

Mongolia acquires results of geological researches in 1950-1990 www.montsame.mn

Results of geological researches carried out from 1950 to 1990 on the territory of Mongolia and other related documents have come to Mongolia. The documents were being kept in the Russian Federal Geological Fund (Rosgeolfond) and the first part was transferred and Minister of Foreign Affairs D.Tsogtbaatar handed over the documents to Minister of Mining and Heavy Industry D.Sumiyabazar on March 21.

Minister of Foreign Affairs D.Tsogtbaatar : “Information of geological research is invaluable. Although geological research is highly risky and needs a big amount of fund, it is significant to attract foreign investment based on the result of the research and make next plans.”

The issue of transferring the documents of the geological researches to Mongolia has been regularly discussed since 2008 during high-level meetings and meetings of the Mongolia-Russia Intergovernmental Commission and finally Mongolia acquires the highly significant documents now.

...