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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Nuncio Named for South Korea and Mongolia www.zenit.com

Pope Francis on February 26, 2018, appointed Rev. Msgr. Alfred Xuereb, prelate secretary general of the Secretariat for Economic Affairs, as apostolic nuncio in South Korea and in Mongolia, assigning him the titular see of Amantea, with the dignity of archbishop.

Archbishop Alfred Xuereb

Archbishop Alfred Xuereb was born in Gozo, Malta on October 14, 1958.

He was ordained a priest on May 26, 1984, and incarnated in Gozo.

After obtaining a degree in theology he began his administrative service at the Secretariat of the Rector of the Pontifical Lateran University in September 1991.

He was transferred to the General Affairs Section of the Secretariat of State on 1 September 1995; to the Prefecture of the Papal Household in November 2000 and to the General Affairs Section of the Secretariat of State (the Special Secretariat of Benedict XVI) on September 11, 2007 and to the Special Secretariat of Pope Francis on March 15, 2013.

He was appointed as delegate for the Pontifical Commission for Reference on the Institute for the Works of Religion and for the Pontifical Commission for study and guidance on the organization of the economic-administrative structure of the Holy See on 28 November 2013.

He was appointed as prelate secretary general of the Secretariat for Economic Affairs on March 3, 2014.

He knows Italian, English, German, Portuguese and French.

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Stock market value reaches historic high level www.montsame.mn

Ulaanbaatar /MONTSAME/ Authorities of the Financial Regulatory Commission (FRC) reported on February 26 that all indicators of stock market had growth in 2017.

Specifically, a total stock market value reached MNT 2.4 trillion in 2017 which showed the highest indication in its history. In 2016, the stock market value was MNT 1.4 trillion and it was raised by 65 percent within one year period. Thus, the stock market equals to 9 percent of Gross domestic product (GDP). Newly issued securities were traded well showing that market demand has increased in the sector.

As of 2017, a total asset of savings and credit cooperatives, non-bank financial institutions (NBFI) and insurance field amounted to MNT 1.4 trillion. It was went up by 23 percent compared to 2016 and makes up 5 percent of the GDP.

A total capital of insurance was MNT 244.7 billion as of the end of 2017, showing 17.4 percent rise than the previous year. A total premium income went up by 26.1 percent, insurance compensation by 31 percent and net profit raised by 15.7 percent compared to 2016.

Amount of total capital of non-bank financial sector reached MNT 969.2 billion in 2017, equalling to 3.6 percent of GDP. As a result of raising threshold of NBFI share capital, loan supply went up and monthly weighted interest rate decreased to 3.4 percent from 4 percent. FRC considers the interest rate can be declined down to 2.1 percent by 2020.

Moreover, savings and credit cooperatives' capital totals MNT 151.3 billion, having 55.624 members and a total net profit of MNT 5.5 billion. It is the highest growth since 2012 and also amount of total credit of the sector reached MNT 105 billion.

B.Batchimeg

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Mongolia's inflation rate to stabilise in 2018 www.news.mn

The Central Bank of Mongolia has released a report on the inflation rate in January 2018. According to the study the consumer price index is expected to be stable in 2018.

The National Statistics Office reported that the inflation rate was 6.9 percent in January.

Food price inflation increased in 2017 due to price increases for meat and vegetables. According to the report, even though non-grocery inflation tends to increase in the first few months of the year, the inflation rate is expected to be sustainable thanks to a decreased impact of currency exchange rates.

The report also noted that production in non-mining sectors will grow, which will support GDP, but growth in the agriculture sector may be lower. The International Monetary Fund’s extended fund facility program has played a role in increasing foreign financing and reducing the budget deficit, which has positively impacted economic growth and will bring about more private sector loans.

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HIV deaths: Mongolia 14th in Asia www.news.mn

Mongolia stands at the fourteenth position in HIV deaths among 50 Asian countries, according to a UNAIDS report. The central Asian country lost nearly 100 people in 2016 due to AIDS, says the report. The country has not seen a significant change in the incidence of cases for over a decade.

Mongolia registered its first case of HIV/AIDS in 1992. Currently, there are 249 people living with HIV in Mongolia: 80 percent of those are men and 79.2 percent are members of the LGBT community.

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Toxic air putting half of Mongolia`s children at risk www.gogo.mn

Ulaanbaatar-home to half of Mongolia`s three million population – is one of the most polluted capitals in the world.

On 30 January, 2018, the levels of PM2.5 pollution reached 3 320 micrograms per cubic meter-133 times the level WHO recommends as safe.

The most important source of air pollution comes from coal-burning stoves in the “ger” districts (informal settlements) during the cold season. Rapid urbanization continues to cause a problem of unplanned settlements and increased air, water and soil pollution.

Unless concrete efforts are made address this situation, exposures will increase in the coming years with significant health consequences for the city`s population, especially for children.

Evidence of the impact air pollution on children

Children are the most vulnerable to adverse health effects of air pollution from the day they are conceived.

Pregnant women`s exposure to air pollution can affect growing baby`s lungs and respiratory system causing pre-term birth and spontaneous abortion.

In Mongolia, a 3.5-fold increase in fetal deaths have been documented between winter and summer. Air pollution is also inked with diseases that can be highly damaging for children, such as bronchitis and asthma, causing children to miss school and other important learning and development opportunities.

Toxic chemicals in the air harm unborn baby`s brain development and contribute to behavioral and cognitive problems later in childhood, evidence suggests.

According to UNICEF in last 10 years, incidents of respiratory diseases in Ulaanbaatar alarmingly increased including a 2.7-fold increase in a respiratory infections per 10,000 population.

Pneumonia is now the second leading cause for under-five child mortality in the country.

In 2015, up to 435 children the age of five in Ulaanbaatar died from pneumonia. Children living in a highly polluted district of Central Ulaanbaatar were found to have 40 percent lower lung function than children living in a rural area.

UNICEF action

UNICEF is working closely with the Government of Mongolia in partnership with CSO`s, private sector, media, public opinion leaders, advocates.

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Russia overtakes China in gold reserves race to end US dollar dominance www.rt.com

The Central Bank of Russia (CBR) boosted its holdings of gold by almost 20 metric tons last month, with reserves reaching 1,857 tons. It has increased its holdings every month since March 2015.
Russia is now among the top five gold holders after surpassing China, which reportedly holds 1,843 tons. Over the last 15 years, Moscow and Beijing have been aggressively accumulating gold reserves to cut their dependence on the US dollar.

“Interestingly, both Russia and China publicize and promote their accumulations of gold and publicly refer to gold as a strategic monetary asset. They make no secret of this. But on the flipside, the US does the opposite, and constantly downplays the strategic role of gold,” Singapore’s BullionStar precious metals expert Ronan Manly told RT in December.

The US claims to be the largest holder of gold with 8,134 tons, but according to Manly, that number is impossible to verify.

“The entire story around the US gold reserves is opaque and secretive. There has never been a full independent audit of the US gold reserves, and the custodians of the gold, the US Mint and the Federal Reserve of New York, will not let anybody into the vaults to view the gold or to count it,” Manly told RT.

Germany is in second place with 3,374 tons, but a large portion of its gold reserves are still held in the US. As of last year, Bundesbank has only been able to repatriate 674 tons of gold kept in Paris and New York since the Cold War. Over 50 percent of Germany’s gold reserves are now in Frankfurt. The remainder is stored in London and New York.

The International Monetary Fund (IMF) owns 2,814 tons of gold. France is the fourth-biggest bullion holder.

The CBR has more than doubled the pace of its gold purchases, according to Gold.org data. It has been increasing the country’s gold reserves to meet the goal set by President Vladimir Putin to make Russia less vulnerable to geopolitical risks. The Russian gold hoard has increased by more than 500 percent since 2000.

Russia is also the third-largest producer of the precious metal. The government has purchased two-thirds of all the gold mined in country, buying it from local banks, as the Kremlin sees the precious metal as a safe haven at a time of geopolitical turbulence.

Reserve diversification is one of the primary reasons Russia buys gold, according to the CBR.

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Cabinet discusses Erdenes Tavan Tolgoi’s 1,072 public shares www.gogo.mn

During an irregular meeting on February 23, Cabinet discussed the Law on Government Special Funds and the 1,072 Erdenes Tavan Tolgoi JSC shares distributed to Mongolian citizens.

Minister of Mining and Heavy Industry D. Sumiyabazar noted, “First, those 1,072 shares need to be registered. Preparation for registering them on the stock market needs to start immediately, because it takes much time. Our ministry is working hard to finish this in 2018.” Cabinet members didn’t reach consensus on the issue of international stock market registration.

The Ministry of Mining and Heavy Industry is working to introduce a proposal regarding the shares to Parliament once it is approved by the cabinet.

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China's Geely buys stake in Mercedes-Benz owner Daimler www.bbc.com

Chinese carmaker Geely has become the biggest investor in Mercedes-Benz owner Daimler, saying it hopes to cooperate with the German giant on electric cars.

Geely shares jumped in Hong Kong after the deal to buy almost 10% of the firm was announced over the weekend.

The Chinese carmaker already fully-owns Sweden's Volvo and black cab maker London Taxi Company.

Chairman Li Shufu is expected to meet Daimler executives on Monday and German government officials later in the week.

Geely's 9.7% stake in the high profile German carmaker has raised some concerns that the Chinese firm will seek access to technology and innovation in exchange for the deal.

But the German government said it saw "no need to act in terms of competition rules or foreign investment rules".

'Invaders from outside'
China is widely considered the most important future market for global car manufacturers.

In a statement by Geely, Mr Li said he wanted to "accompany Daimler on its way to becoming the world's leading electro-mobility provider," and was looking for a long-term commitment.

Describing what he called a "strategic vision," he argued that "invaders from outside" the traditional car sector, meant firms needed to cooperate through partnerships and alliances.

Traditional carmakers are increasingly facing competition from newcomers from the technology sector, including Tesla and the Google-associated Waymo.

Also over the weekend, Daimler announced a $1.9bn (£1.4bn) investment into a partnership with another Chinese auto firm, BAIC.

The money will go into modernising a BAIC plant to build Mercedes cars including electric vehicles, the two companies said.

Daimler and BAIC are already cooperating in the Chinese market, where foreign production is often only permitted through partnerships with Chinese firms.

Last week, fellow German carmaker BMW announced a deal with Chinese manufacturer Great Wall Motor to build electric-powered Mini cars in China for the local market.

The Chinese government has said 20% of cars sold by 2025 should be electric or rechargeable-hybrid vehicles - a target that is spurring many global carmakers to raise their investment in China.

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Prime Minister to pay visit to China www.montsame.mn

Ulaanbaatar /MONTSAME/ Prime Minister U.Khurelsukh will pay a visit to People's Republic of China on April 10-13. Minister of Road and Transport Development J.Bat-Erdene paid visit to China in the beginning of February to ensure preparation of the Prime Minister’s visit to the country.

Prior this PM U.Khurelsukh made his first foreign official visit to the Republic of Korea on January 15-17. 
B.Batchimeg

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Parliament to convene spring session on April 5 www.montsame.mn

Ulaanbaatar /MONTSAME/ Parliamentary spring session will convene on April 5.

The autumn session of the Parliament convened on October 2 and closed on February 9 after adopting 18 independent laws, amendment and revision to 95 laws and 54 resolutions.

The spring session agenda includes bills and resolutions on the 2019 State Budget statement; the 2020-2021 State Budget assumption; the 2017 Budget performance; the 2017 Government financial report; the implementation of the 2017 General Guidelines on Social and Economic Development of Mongolia; and the 2019 General Guidelines on Social and Economic Development of Mongolia.

Moreover, bills including the Legal Status of the Capital City; Amendments to the Constitution of Mongolia; Parliamentary Elections and Parliament are lined up for the spring session which will convene in early April. A number of other bills will be discussed by the Parliament.

The spring session will close on July 1, in accordance with the corresponding law.
Kh.Aminaa

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