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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New Mongolia mining service group launched www.mining-journal.com

Chief executive officer Batkhuu Dorj says MMS is set to open its new Khan Bogd workshop less than 20km from the Oyu Tolgoi mine-gate in August this year. The 720-square-metre facility will complement its main workshop at Ulaanbaatar. Already the firm and its 40 or so employees are working on electrical, pumping, fabrication, engineering and drafting projects for a range of clients.

MMS, owned 50-50 by Australia's Murray Engineering and South Gobi Development Corporation, has been in operation since May.

Murray, part of the internationally renowned Byrnecut Group, and South Gobi Development Corp did a thorough assessment of Mongolia's mining and infrastructure market before committing to the new venture.

"Mongolia has rich natural resources that are again arousing a high level of interest among investors," Batkhuu says.

"Murray Mining Services has a great opportunity and is positioned to grow with the expected expansion of mining projects and the development of basic infrastructure.

"There are two current mega projects in the South Gobi region in the Oyu Tolgoi copper-gold and Tavan Tolgoi coal mines. They will play a significant role in Mongolia's future development.

"There will be large supporting infrastructure projects around these mega projects, including power plants, railways, processing plants, water supply and local community development projects."

Mongolia is also seeing renewed international investment in its copper, gold, molybdenum, zinc, tungsten, iron ore, uranium, fluorspar and other minerals.

MMS chief operating officer Gonzalo Sanchez, an experienced boiler maker and fabrication business manager who spent four years with Mongolia Komatsu dealer Transwest and was then involved in the formation of South Gobi Development Corp, says strong growth in the country's mining sector over the past 10-15 years has been punctuated only by the global slowdown in the industry between 2014 and 2016.

"The policies and investment laws are more favourable for investment now and with the government taking this very seriously they are only getting better investors and bigger investments made," Sanchez says.

"New investment in infrastructure such as the power plants and road projects in the eastern region will increase the attraction of mining in the area.

"We also see that, with the standard of fabrication and assembly work that can be achieved here, and by applying Murray standards in the operation, we will have an opportunity to produce export-quality products in Mongolia for supply in the region."

Indeed, MMS aims to emulate the success of the giant Oyu Tolgoi operation near Khan Bogd by training and developing a large, skilled labour force equipped to do machine maintenance, remanufacturing, and final assemblies for local mines and possibly operations further afield.

"Today 96% of Oyu Tolgoi employees are Mongolians and we very proud to see them running the world-class mine," Batkhuu says.

Murray Engineering managing director Craig Lindsay-Rae says the new Mongolia enterprise made a lot of sense as Murray's first offshore venture. The world-class engineering, maintenance and fabrication business has operations around Australia.

"Mongolia is a democracy which is politically close to Australia and, like Australia, the country is resource rich. The Mongolian people have a great work ethic," Lindsay-Rae says.

"Now is a good time for this venture because we have prominent partners who are committed to the South Gobi Region where the Oyu Tolgoi mine is situated.

"We were particularly impressed with the commercial and technical knowhow of the key managers of our partner company in Mongolia, and we have an excellent cultural fit. We look for synergy in culture in any investment we make, and that includes being customer-focused and being able to ensure we have homogenous quality and service standards across the globe, and all this we see being achieved in Mongolia."

Batkhuu, who has more than 20 years of direct experience in Mongolia's mineral exploration and mining sector, as well as a background in accounting and corporate finance, is highly enthused about prospects for regional development and expansion of MMS.

A former president of Mongolia's JCI organisation, part of the worldwide JCI young leaders and entrepreneurs network, Batkhuu says the opportunity to develop the skills and qualifications of local people in the South Gobi region in association with an international group widely recognised for its successes in this area, is particularly appealing.

MMS currently has three hectares of land around the 720sq.m workshop, giving it plenty of room to grow. "This is our first workshop and in the future we will have more for different purposes as MMS has several operating units," Batkhuu says.

Sanchez started working as a boilermaker trade assistant in Brisbane, Australia, when he was 17.

He went on to work for various leading small engineering and fabrication firms, such as Kador Engineering, Austin Engineering and Jaws Buckets. These companies have grown internationally on their domestic connections with mining and resources and Sanchez sees a similar opportunity emerging in Mongolia.

"The new workshop will have an initial focus on pump remanufacturing and service, and we can expand that in future to include fabrication and electrical maintenance," he says.

"All this can be done by locals with training from Murray to ensure world-class standards of work and service.

"This is a venture combining Australian and Mongolian enterprise and energy that I think has a great future."

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Mongolia eyes investment for 8 pct growth in 2019 www.xinhuanet.com

ULAN BATOR, July 2 (Xinhua) -- Mongolia aims to push up its economic growth rate to 8 percent and keep inflation below 8 percent in 2019, the Economic Standing Committee of parliament said Monday.

"To achieve the goals, we have to attract more investment. We are working to optimize the business environment and make tax (reforms) in a bid to restore foreign investor confidence," Dorjdamba Damba-Ochir, head of the committee, said.

Mongolia's GDP grew 5.1 percent year on year in 2017, compared to 1.0 percent the previous year.

The International Monetary Fund has predicted Mongolia's GDP growth will be 5 percent this year and climb to 6.3 percent next year.

Editor: Li Xia

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Details of Mongolia's crop cultivation www.news.mn

The Ministry of Food, Agriculture and Light Industry has provided details of crop cultivation this year: across Mongolia, 494.3 thousand hectares - or just under five square kilometers - are currently under cultivation, including 342 thousand hectares for wheat, 12.7 thousand hectares for potatoes, 8.1 thousand hectares for vegetables, 69.7 thousand hectares for oil plants, 36.6 thousand hectares for fodder plants, 947 hectares for medicinal plants and 386 hectares for various fruits. Cultivation began nationwide only on 3 May because of weather conditions.

Agriculture accounts for 73 percent of the land use in Mongolia and makes up 13.3 percent of the country’s GDP. The bulk of this is connected with livestock rearing and related milk, dairy and meat.

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Boeing's hypersonic passenger plane could get you from New York to London in 2 hours www.cnn.com

Boeing says the jet could get you anywhere in the world in just one to three hours. With top speeds exceeding 3,800 miles per hour, the trek from New York to London, for example, could take 120 minutes. Currently the trip takes around seven hours.

Boeing (BA), the world's largest aircraft manufacturer, says the concept is still in the early stages of development. Key technical challenges will need to be solved before the company will even produce a prototype, Boeing spokesperson Brianna Jackson said Wednesday.

It's possible the concept could become a reality in 20 to 30 years, Jackson said in an email.

"Developments takes years to complete, and even more so with a technology that requires additional testing and refinement as we work to understand how it might fit into the market place," she said.

Boeing is serious about hypersonic and has been testing ultra-fast technology for decades, Jackson said.

And this concept is just one of several in the works. Earlier this year, Boeing unveiled a design for an autonomous hypersonic drone that could be used by the military for surveillance.

Its passenger plane concept may be used by the US military before it ever hits the commercial marketplace. Jackson, the spokesperson, did not give examples of its potential defense purpose, but instead pointed to the drone concept.

"[W]e'd see something like this first before a passenger hypersonic concept," Jackson said.

If Boeing's latest concept is realized it will easily rank among the fastest piloted vehicles ever flown.

It would be more than twice as quick as the legendary Concorde, which could make transatlantic flights in under four hours and retired over a decade ago. It would even be faster than the Lockheed SR-71, which carried two Air Force officers up to speeds of 2,193 miles per hour in 1976.

Boeing isn't the only player in the game. Other companies — such as Lockheed Martin and Aerion Corporation — are also working to develop hypersonic aircrafts.

And Elon Musk's rocket startup, SpaceX, has plans to use the spaceship portion of its interplanetary transport system to shuttle people around the globe at unheard of speeds. Musk said at a space conference last year it could take passengers from New York to Shanghai in just half an hour.

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Chinese businesses make US firm’s most-valued companies list www.chinadaily.com.cn

A US-based executive-search firm’s ranking of what it says are the world’s most highly valued companies for 2018 features more businesses from Asia and China than the US.

Heidrick & Struggles on Thursday released its "Superaccelerators", a group of 19 companies among 500 companies with the highest market capitalizations in the world that have achieved high levels of sustained organic growth and profitability according to the Chicago-based firm’s standards.

The firm said while the US dominated the list for the past two years, the 2018 list has shifted toward more representation from Asia Pacific with 11 companies from the region, including seven from China and one from Hong Kong. China had six companies on the 2017 list and three in 2016.

Chinese companies on the 2018 list include Tencent Holdings Ltd, Ping An Insurance (Group) Co Ltd, Kweichow Moutai Co Ltd, Country Garden Holdings, China Evergrande Group, and NetEase Inc. AIA Group Limited, based in Hong Kong and China, was also on the list.

Only six of the companies on this year’s list are based in the US, down from 16 in 2017 and in 2016. Two companies are in Europe, up from none last year and one in 2016.

The top-ranked company is US-based Alphabet Inc, parent of Google. Other American companies on the 2018 ranking include Visa Inc and Charles Schwab.

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Three Mongolian tech startups listed on Echelon TOP 100 www.montsame.mn

Ulaanbaatar /MONTSAME/ Three Mongolian tech startups were included in Asia Pacific TOP 100 programme by e27, biggest network that empowers startups and entrepreneurs in Asia.

Top 100 companies were introduced to 400 investors and 5000 participants during the Echelon Asia Summit 2018 held in Singapore on June 28, 29 and and 10 best companies were selected among them. Three Mongolian startups including ‘Erxes’ marketing platform, ‘LendMN’ fintech financial services company and ‘iHotel.mn’ search engine are in the TOP 100 for the first time.

APAC Regional Director of Techstars D.Bat-Oktyabr emphasized that the platforms developed by these companies stood out with speed, productivity, usage and product growth compared to their internationally recognized counterparts.

The selected companies will familiarize with Singapore’s startup business environment, exchange experiences and receive wide range of recommendations from Asian billionaire mentors on how to compete on the international market.
B.Misheel

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Rijiju to lead Indian delegation for disaster meet in Mongolia www.india.com

New Delhi, Jul 1 (PTI) An Indian delegation led by Union minister Kiren Rijiju will participate in the Asian Ministerial Conference on Disaster Risk Reduction (AMCDRR 2018) to be held in Mongolia from July 3.

The four-day meet in Ulaanbaatar is expected to host over 3,000 delegates and participants from Asian and Pacific countries, governmental and inter-governmental organisations, the United Nations and other stakeholders, an official statement said today.

Rijiju, the Union Minister of State for Home, will present the country statement on July 4 and chair a technical session on disaster risk reduction, it said. P K Mishra, Additional Principal Secretary to the Prime Minister, will co-chair a session on ‘strengthening disaster resilient infrastructure and urban resilience on July 5.

Kamal Kishore, member, National Disaster Management Authority, will be a speaker at the same event and R K Jain, member, NDMA, will present a case study on heat wave during a technical session.

India will also organise a side event during the AMCDRR on cultural heritage and disaster risk management, the statement said. Participants from private sector/the Federation of Indian Chambers of Commerce and Industry (FICCI) will attend an event being jointly organised by the Mongolian Chambers of Commerce and the FICCI.

Some Indian companies are also expected to present their firms’ activities on disaster risk management, it said.

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LeBron James agrees to four-year, $154 million deal with Lakers www.reuters.com

(Reuters) - Three-time NBA champion LeBron James has agreed to a four-year $154 million contract with the Los Angeles Lakers, his agency said on Sunday.

The 33-year-old forward leaves the Cleveland Cavaliers to join an iconic franchise that has won 16 NBA titles but is rebuilding after posting a losing record for five consecutive seasons.

The decision by the game’s best all-around player to leave his native Ohio for Los Angeles, where he has a home, will make the Lakers an instant contender in the Western Conference where the Golden State Warriors have won three of the last four NBA titles, defeating Cleveland each time.

The other title, for the 2016 season, went to the James’ led Cavaliers.

Originally signed by the Cavaliers in 2003, James, who grew up in Akron, left Cleveland in 2010 to join the Miami Heat and led them to four consecutive NBA Finals, winning in 2012 and 2013.

He returned home to the Cavaliers the next season and ended a long championship drought for Cleveland with the NBA title in 2016.

Reporting by Gene Cherry in Raleigh, North Carolina; Editing by John O'Brien/Peter Rutherford

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Mongolian parliament backs Tavan Tolgoi mine project www.news.mn

On Friday (29 June), the Mongolian State Great Khural (parliament) backed Tavan Tolgoi - the nation's largest coal mining project - which has reserves of 7.4 billion tonnes of high-grade coal. The Cabinet presented the project to the lawmakers last week.

According to the Finance Ministry, the Tavan Tolgoi coal mine project is expected to increase export revenue by USD 2.8 billion and to contribute from USD 400 to a billion in tax revenue. In addition, the Tavan Tolgoi mine project will create 5800 new jobs in the Mongolian Gobi Desert.

Tavan Tolgoi is Mongolia’s largest coal mining complex and is located in the South Gobi desert close to the border with China. Divided into six sections: Tsankhi, Ukhaa Khudag, Bor-tolgoi, Borteeg, and South-west and Eastern coalfields, the mining complex has been ranked the world’s most profitable and untapped coal deposit. It is said to be the second largest coal deposit in the world. Over the years the coal mine has often been hailed as a panacea for Mongolia’s economic problems along with cooper gold mine, Oyu Tolgoi.

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Revenue of Suuu LLC soars after bond launch www.news.mn

Suu JSC has successfully traded its bonds, priced at MNT100K face value with an annual 17.5% interest rate at Mongolian Stock Exchange (MSE). The company has received over 67,000 stock orders which exceeded company’s supply. Since launching its bond in June 2017, the company has sold stocks worth of MNT 4.8 billion. The company’s stock price has risen by 64 percent. It was the biggest publicly traded bond in the MSE history.

The company's net profit reached MNT 2.4 billion in 2017 while yearly revenue increased by 41 percent.

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