1 JEFF BEZOS IS NOW WORTH MORE THAN BILL GATES AND LARRY PAGE COMBINED WWW.CNN.COM PUBLISHED:2018/07/17      2 APARTMENT COMPLEX FOR YOUNG FAMILIES UNDER CONSTRUCTION IN ERDENET WWW.MONTSAME.MN PUBLISHED:2018/07/17      3 NUM GRADUATES INVITED TO WORK FOR TOSHIBA CORPORATION WWW.MONTSAME.MN PUBLISHED:2018/07/17      4 RUSSIA & UNITED STATES CAN COMPETE & WORK TOGETHER IN ENERGY MARKET - PUTIN WWW.RT.COM PUBLISHED:2018/07/17      5 TESLA IS GETTING A CHINA FACTORY. THIS $4 BILLION STARTUP WILL BE WAITING WWW.BLOOMBERGTV.MN PUBLISHED:2018/07/17      6 HOW MINING TYCOONS ARE TRYING TO FOIL A BIG UK BRIBERY PROBE WWW.MINING.COM PUBLISHED:2018/07/17      7 MONGOLIA'S TOURISM REVENUE INCREASES BY 20 PERCENT WWW.NEWS.MN PUBLISHED:2018/07/16      8 WATER LEVELS OF MAJOR MONGOLIAN RIVERS EXCEED ALARM LINE WWW.XINHUANET.COM PUBLISHED:2018/07/16      9 CHINA SETS RECORD DAILY STEEL OUTPUT FOR THIRD MONTH IN A ROW WWW.REUTERS.COM PUBLISHED:2018/07/16      10 RUSSIAN RETAILERS, HOTELS EMERGE AS WORLD CUP WINNERS WWW.THEMOSCOWTIMES.COM PUBLISHED:2018/07/16      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     "ТАВАНТОЛГОЙ"-Н ТӨМӨР ЗАМЫН ТӨСӨЛ УРАГШЛАХ ЭСЭХ НЬ SHENHUA-ГААС ШАЛТГААЛАХААР БАЙНА WWW.ZGM.MN НИЙТЭЛСЭН:2018/07/17     ХӨШИГИЙН ХӨНДИЙН НИСЭХ БУУДАЛД 5.3 ТЭРБУМ ТӨГРӨГИЙН ҮНЭ БҮХИЙ ЦАЦРАГИЙН ХЯНАЛТЫН ТӨХӨӨРӨМЖ СУУРИЛУУЛНА WWW.DNN.MN НИЙТЭЛСЭН:2018/07/17     2017 ОНЫ САНХҮҮГИЙН НЭГДСЭН ТАЙЛАН ЗӨРЧИЛГҮЙ ДҮГНЭГДЛЭЭ WWW.NEWS.MN НИЙТЭЛСЭН:2018/07/17     2018 ОНЫ ЭХНИЙ ХАГАСТ ХЯТАДЫН ДНБ 6,8 ХУВИАР ӨСЧЭЭ WWW.GOGO.MN НИЙТЭЛСЭН:2018/07/17     МОНГОЛ УЛС ЯПОН УЛСАД 100 МЯНГАН АМ.ДОЛЛАРЫН ХҮМҮҮНЛЭГИЙН ТУСЛАМЖ ҮЗҮҮЛЭХЭЭР БОЛЛОО WWW.GOGO.MN НИЙТЭЛСЭН:2018/07/17     ОУВС-ГААС МАНАЙ УЛС 184.5 САЯ ДОЛЛАРЫН САНХҮҮЖИЛТ АВААД БАЙНА WWW.EAGLE.MN НИЙТЭЛСЭН:2018/07/17     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    

Events

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

NEWS

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Mongolia's industrial production grows 23.3pc in Jan-May www.thefinancialexpress.com.bd

The volume of industrial production in Mongolia grew 23.3 per cent in the January-May period compared to the same period last year, amounting to $2.439 billion US dollars.

The Ministry of Mining and Heavy Industry of Mongolia announced this at a press conference for local media on Thursday, reports Xinhua.

Sumiyabazar Dolgorsuren, minister of the mining and heavy industry, said that production of the main products of mining and extractive industries was up by 23.7 per cent, which is the main cause of the growth of industrial production.

In particular, coal production of the East Asian country increased by 48 per cent, and the volume of iron ore production went up 12.6 per cent against the corresponding period of 2017.

Currently, over 72.2 per cent of Mongolia's total industrial production is accounted for by mining industry products.

The minister said that the production volume of copper concentrate for this period increased by 3.0 per cent, and fluorite concentrate grew 39.5 per cent.

As for crude oil production, it fell by 9.0 per cent compared to the same period last year.

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Khaan Quest 2018 int'l peacekeeping drill wraps up in Mongolia www.xinhuanet.com

ULAN BATOR, June 28 (Xinhua) -- An annual multinational peacekeeping exercise, code-named Khaan Quest 2018, concluded with a closing ceremony at Five Hills Training Area near the Mongolian capital on Thursday.

"First of all, I would like to express my sincere appreciation to all participating countries for sending their military servicemen to the multinational military exercise," Mongolian Prime Minister Ukhnaa Hurelsukh said at the closing ceremony of the military exercise.

"Peace and tranquility are the foundation of a nation's development. Therefore, Mongolia always welcomes any initiative to strengthen international and regional peace and security, and actively participates in the UN (United Nations) peacekeeping operations," he said.

A total of 1,400 military personnel from 26 countries, including Mongolia, the United States, China, Russia, Germany, Bhutan and Qatar have participated in the two-week-long military exercise.

Bhutan and Qatar's military servicemen have for the first time participated in the exercise.

Khaan Quest 2018 consisted of a command post exercise and a field training exercise focusing on peacekeeping and stability operations. Individual events include checkpoint control, combat casualty care, water patrolling and civilian protection.

Within the framework of Khaan Quest 2018, the participants provided medical treatment to more than 1,000 citizens.

In addition, cultural and sports events were held during the exercise, with the aim of promoting the traditions and customs of all participating countries.

The peacekeeping exercise was launched in 2003 by the Mongolian Armed Forces (MAF) in cooperation with the then U.S. Pacific Command and a United Nations peace support fund. It expanded to a multinational drill in 2006.

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Apple and Samsung settle their epic patent infringement battle www.cnn.com

Apple and Samsung just ended their epic seven-year legal patent infringement fight.
The two companies agreed to a settlement in the case, according to court documents filed Wednesday, but did not disclose the terms.

The settlement closes a dispute that started in 2011 when Apple accused Samsung (SSNLF) of "slavishly" copying the iPhone's design and software features. A jury awarded Apple (AAPL) $539 million in May, leaving Samsung with an outstanding balance of $140 million it owed Apple. It was not clear Wednesday how much more, if anything, Apple will receive.

Litigating the case cost the two world's two largest smartphone makers hundreds of millions of dollars and resulted in several rulings and appeals. In 2012, a jury ruled that Samsung must pay Apple more than $1 billion for copying various hardware and software features of the iPhone and iPad. A federal judge later reduced that penalty by $450 million.

Their fight eventually landed in the Supreme Court, which in 2016 reversed an appeals court ruling that Samsung must pay $399 million for patent infringement. Justices sent the case back to the lower court to sort out the financial penalty.

A representative for Apple declined to comment beyond referring CNNMoney to a statement the company released last month following the jury award.

"This case has always been about more than money," the company said at the time. "Apple ignited the smartphone revolution with iPhone and it is a fact that Samsung blatantly copied our design. It is important that we continue to protect the hard work and innovation of so many people at Apple."

Samsung declined to comment.

Ultimately, jurors found Samsung had infringed on the majority of the patents in question -- including software features like double-tap zooming and scrolling. Many devices also infringed on hardware style or icon setup. Although "Apple won most of the battles," Samsung found way to "design around" the patents Apple claimed it copied, said Michael Risch, a patent law professor at Villanova University.

"One lesson is consumers will drive tech more than patents. Samsung went where it thought consumers wanted ... and Apple stayed with its distinctive smaller shape for a much longer period than Samsung," Risch said. "Sometimes patent can drive innovation in ways we may not have expected."

CNNMoney (New York)
First published June 27, 2018: 4:55 PM ET

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Korean Air chief suspected of tax evasion www.nhk.or.jp

Prosecutors in South Korea are questioning the head of Korean Air's parent conglomerate on suspicion of tax evasion.

Hanjin Group Chairman Cho Yang-ho appeared at a prosecutors' office in Seoul on Thursday morning.

He told reporters outside the building that he will face the investigation in good faith.

South Korean media report Cho and his sister allegedly evaded about 50 billion won, or more than 44 million dollars, in taxes on their inheritance of their father's overseas assets.

The Cho family has made scandalous headlines in recent years.
Cho's eldest daughter was criticized in 2014 for ordering her flight back to the gate before takeoff because she was unhappy with the way her nuts were served. The episode is known the "nut rage" incident.

His younger daughter was questioned by police on suspicion of assault after she reportedly lost her temper during a meeting and threw a drink in the participants' faces.

Both daughters later stepped down from their executive posts at Korean Air.

Cho's wife was also questioned by police last month on suspicion of assault for reportedly shoving workers at a construction site

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Grey water to be supplied to Gobi www.news.mn

The Cabinet has approved a project entitled  the ‘Songino-Gobi’ to provide people living in the Gobi region with purified technical and industrial water. Each day, 200 thousand meter cubic of water from the Wastewater Treatment Plant will be purified to the required standards.

The project is aimed at preventing shortage in the region's groundwater resources, saving water resources, and re-using greywater for industrial purposes.

One immediate industrial application is coal washing at the Tavan Tolgoi mining complex, prior to it being exported to China. By washing the coal it is possible to make a profit of up to USD 60 per tonne.

As a preliminary estimation, through washing and exporting coal from Tavan Tolgoi coal deposit, it is possible to make a profit of up to USD 50-60 per tonne. Subsequently, it is estimated that over USD 2 billion revenue a year can be generated.

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Russia extends free land giveaway program beyond Far East www.rt.com

Russia’s northwestern Vologda region will give out unused land to Russian citizens. The program, which started in the country’s Far East, has proven to be popular.

The bill on free land in Vologda will be introduced in the regional parliament in September and is likely to be introduced starting January. According to the program launched in Russia’s Far East, free land can be used for any lawful purpose, but the new owners cannot rent, sell, or give the land away for five years.

Foreigners are also eligible to use the land, but the registration of full property rights is only possible after the recipient becomes a naturalized citizen. The program started in June 2016 for the local populations of the Far East, and from February 2017 it became available for all Russians.

Vologda will give out 468,000 hectares of vacant agricultural land in 14 remote areas of the region. These lands will be used for farming and raising livestock.

Russia has about 43 million hectares of farmland that is not used for its intended purpose. President Vladimir Putin ordered the land be given out to Russian citizens.

The area of Vologda region is split between the basins of the White Sea, the Baltic Sea, and the Caspian Sea. Lake Onega, one of the biggest freshwater lakes in Europe, is located in the region.

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Turquoise Hill board appoints interim CEO www.gogo.mn

Turquoise Hill Resources today announced the Company’s Board of Directors has appointed Chief Financial Officer Luke Colton to the additional position of interim Chief Executive Officer effective July 1, 2018.

The board is in the final stages of a robust CEO search and expects to make an announcement in the near term. As previously disclosed, current CEO Jeff Tygesen is retiring from the Company.

Prior to joining Turquoise Hill in October 2017, Mr. Colton worked for Rio Tinto in various product groups, including Energy & Minerals and Iron Ore. Prior to joining Rio Tinto, he was a Senior Accountant with Ernst & Young.

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Mongolia produces over 3 mln barrels of crude oil in H1 www.xinhuanet.com

ULAN BATOR, June 27 (Xinhua)-- Mongolian authorities said Wednesday that the country has in total extracted over 3.196 million barrels or 433,311 tons of crude oil in the first half of the year.

The Mongolian Ministry of Mining and Heavy Industry said that out of its total production, 3.127 million barrels or 424,631 tons of crude oil were exported to China during the same period.

Currently, Mongolia exports crude oil to China and imports petroleum products from Russia.

The country is planning to extract 8.1 million barrels or 1.1 million tons of crude oil this year, which would contribute 223.4 billion Mongolian Tugrik (93.31 million U.S. dollars) to the state budget.

According to the ministry, Mongolia has implemented 38.6 percent of its export goals for the year.

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Man arrested in Mongolia for smuggling rare dinosaur fossil www.xinhuanet.com

ULAN BATOR, June 27 (Xinhua) -- A man was arrested in Mongolia's capital Ulan Bator over illegal possession of a rare dinosaur fossil, according to local police.

The man hid the 80-million-year-old fossil of a protoceratops in his cottage and planned to sell it.

The police seized the fossil and handed it over to the Institute of Paleontology and Geology of the Mongolian Academy of Sciences.

The details of the fossil have not been made public. The case is under investigation.

The Protoceratops was a genus of the sheep-sized herbivorous ceratopsian dinosaur during the Upper Cretaceous Period.

Mongolia is known for its large number of dinosaur-related findings.

Under Mongolian law, significant fossil discoveries cannot be exported or sold to non-Mongolians, even if they are privately owned.

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IMF Executive Board Completes Fourth Review under the Extended Arrangement for Mongolia and Approves US$ 36.91 Million Disbursement www.imf.org

On June 27, 2018, the Executive Board of the International Monetary Fund (IMF) completed the fourth review of Mongolia’s performance under the program supported by a three-year extended arrangement under the Extended Fund Facility (EFF). Completion of the review enables Mongolia to draw the equivalent of SDR 26.2088 million (about US$ 36.91 million), bringing total disbursements under the arrangement to SDR 131.0366 million (about US$ 184.55 million).

Mongolia’s performance under the program remains strong. The combination of strong policy implementation and a supportive external environment has helped the authorities over-perform on all end-March 2018 quantitative targets under the program. Progress has also been made on structural reforms, albeit with some delays.

Mongolia’s three-year extended arrangement was approved on May 24, 2017, in an amount equivalent to SDR 314.5054 million, or about US$ 434.3 million1 at the time of approval of the arrangement (see Press Release No. 17/193 ). The government’s Economic Recovery Program, supported by the IMF, aims to stabilize the economy, reduce the fiscal deficit and debt, rebuild foreign exchange reserves, introduce measures to mitigate the boom-bust cycle and promote sustainable and inclusive growth.

Following the Executive Board’s discussion of the review, Mr. Tao Zhang, Acting Chair and Deputy Managing Director, said:

“Mongolia is making good progress under the Fund-supported program. Helped by a favorable external environment and strong program implementation, growth has picked up and there has been a considerable improvement in fiscal substantiality, debt dynamics, and external buffers.

“All end-March 2018 quantitative targets under the program were met. Fiscal accounts showed robust performance posting a primary surplus, mainly reflecting a sharp increase in revenue. Meanwhile, international reserves have more than doubled since the start of the program.

“Reforms to strengthen the financial sector are ongoing with a focus on the follow-up to the asset quality review completed in January. Banks are in the process of raising capital to address any identified shortfalls. In addition, the authorities passed a law outlining when and how public funds can be used to preserve banking sector stability.

“Notwithstanding this progress, Mongolia remains vulnerable to external and internal shocks. It is therefore critical to take advantage of the current favorable economic environment to continue building fiscal and foreign exchange buffers, strengthen the banking sector, and improve the investment climate. A steadfast implementation of the authorities’ reform program is key to build resilience against shocks and ensure continued strong and inclusive growth.”

IMF Communications Department

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