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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U.Ganzorig appointed president of Mongolian Bankers Association www.montsame.mn

Ulaanbaatar /MONTSAME/ Chief Executive Officer (CEO) of Golomt Bank U.Ganzorig has been appointed as President of the Mongolian Bankers Association (MBA), finishing tenure of the former president O.Orkhon. CEO of Trade and Development Bank O.Orkhon worked as the president of the MBA in 2015-2017.

According to the rule of the MBA, regular election meeting was organized, holding poll, where U.Ganzorig appointed as president of the MBA. Thus he will lead the association in 2018-2020.

B.Batchimeg

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Mining M&A jumps to 4-year high – expect more in 2018 www.mining.com

The value of global mining and metals deals hit a four-year high in 2017, according to accountancy firm EY, boosted by a jump in money raised on stock exchanges to a six-year high.

Mining and metals deals totalled $51 billion last year, up 15% from 2016. Activity was dominated by coal and steel transactions. However, the volume of deals fell 6% as M&A focus in the sector started shifting from divestment to strategic acquisitions.

"The focus for most of the sector in 2017 was consolidating balance sheet strength and maintaining capital discipline," EY said in a quarterly report on the sector, published on Monday.

Coal transactions surged 156 % to $8.5 billion as the world's move to renewables prompted miners to shift away from thermal coal.

One of the biggest coal deals last year was Rio Tinto's sale of its Coal and Allied mines to Australia's Yancoal for $2.7 billion.

Steel deals doubled to $13.3 billion, mainly comprising large Chinese mergers and divestments in Latin America. The report said overall China continued to be a key driver of activity, leading deals by value both as an acquirer ($18.7b, 36.5%) and as a target ($13.6b, 26.6%).

Gold transactions fell 34% to $7.3 billion as the volume of transactions fell 13% to 134 deals done. The number and value of deals in copper, nickel, potash all fell, while silver-lead-zinc and iron ore saw more activity.

Money raised by mining companies from IPOs and stock exchange listings rose to $2.8 billion, the highest in six years but still nowhere near the $17 billion raised in 2011 at the height of the commodities boom. Follow-on equity issues also rose to the highest since 2013 at $31 billion in 2017. Debt and loans together constituted $218 billion of the total money raised last year.

For 2018 EY expects deals to be fuelled by the industry's return to investment-led strategies aimed at building portfolios rather than the divestment-oriented deals that dominated in 2017. Companies' working capital requirements are also set to increase.

"Some of this activity will be to shape portfolios for future growth and sustain shareholder returns," said EY global mining and metals transactions leader Lee Downham, "but the return of transformational consolidation across the industry is unlikely as capital discipline is maintained":

Alongside this capital discipline, we began to see the emergence of investment strategies, with capital earmarked for organic projects and increasingly considered for acquisitions.

"With the buzz around new world critical minerals and battery technology, deals in lithium, copper and cobalt are expected to feature high on the agenda of management teams across the industry," according to the report.

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Chicken chaos as KFC closes outlets www.bbc.com

KFC has closed more than half of its 900 UK outlets after delivery problems meant they ran out of chicken.

Last week, the fried chicken chain switched its delivery contract to DHL, which blamed "operational issues" for the supply disruption.

It was unclear when the delivery problems would be rectified, a KFC spokesperson said.

Workers are being encouraged to take holiday but would not be forced to do so, he added.

"Our teams are working flat out all hours to get the rest back up and running as soon as possible - but it's too early to say how long it will take to clear the backlog."

KFC has set up a web page where "fans" can find their nearest outlet that is still open.

It said that in the restaurants owned by the chain, staff on short-term contracts would be paid the average hours worked per day over the past 12 weeks, while those on salaries would be paid as normal.

However, 80% of KFC outlets are run on a franchise basis.

"Franchisees will be seeking their own independent advice, but we're encouraging them to adopt this policy too," said the chain.

Until last Tuesday, KFC's chicken was delivered by South African-owned distribution group Bidvest, which describes itself as "the leading supplier of logistical and supply chain solutions to the UK hospitality and restaurant sector".

But after the change in the contract, many of the food giant's outlets began running out of chicken products.

'Teething problems'
"The chicken crossed the road, just not to our restaurants," KFC said on Twitter.

"We've brought a new delivery partner onboard, but they've had a couple of teething problems - getting fresh chicken out to 900 restaurants across the country is pretty complex!" it added, apologising to customers for the inconvenience.

"We won't compromise on quality, so no deliveries has meant some of our restaurants are closed, and others are operating a limited menu or shortened hours."

The statement listed KFC restaurants that were still open despite the problems.

The distribution network uses software developed by the firm Quick Service Logistics (QSL).

The GMB union said it had tried to warn KFC that switching from Bidvest to DHL was a mistake. The change led to 255 job losses and the closure of a Bidvest depot, said Mick Rix, GMB national officer.

He said: "Bidvest are specialists - a food distribution firm with years of experience. DHL are scratching around for any work they can get, and undercut them.

"KFC are left with hundreds of restaurants closed while DHL try and run the whole operation out of one distribution centre. Three weeks ago KFC knew they had made a terrible mistake, but by then it was too late.

One KFC customer, Claire, told BBC Radio 5 live she was surprised when she went out with her children at the weekend.

"We went on Saturday night to our local KFC in Luton and queued for about 20 minutes in the drive-thru, about 15 cars in the queue, and when we got to the actual counter and asked for our standard family bucket, we were told there was no chicken," she said.

"The kids, who are nine-year-old twins, they wanted chicken and clearly it wasn't available, so we said there's nothing available that we wanted, and we then had the joy of queuing to get back out again."

Other disgruntled KFC customers have been taking to Twitter to express their dismay at the shortages.

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Foreign trade for the first one month of 2018 www.gogo.mn

A result of foreign trade for the first one month of 2018 has been based on 28168 export, and 15469 import customs declarations and other non customs resources of information.

679 export and 342 import declarations belong to the goods crossed through seasonal ports.

A result of total turnover of foreign trade for the first 1 month of 2018 amounted 785.0 mln.USD which increased in 100.4 mln.USD or 14.7 percent against the same period of the last year.

Export exceeded import in 62.7 mln.USD and foreign trade balance became positive.

The volume of export is 423.8 mln.USD which means decrease by 1.1 percent if compared with the same period of the last year.

99.1 percent of exported goods comes to transactions paid in hard currency.

In total export minerals amounted

351.7 mln.USD or 83.0%; natural or cultured pearls, precious or semi-precious stones amounted 27.2 mln.USD or 6.4%; vegetable products 4.1 mln.USD or 1.0%; export of raw hides and skins, leather, furskins and articles thereof equaled to 3.3 mln.USD or 0.8%, textiles and textile articles 10.3 mln.USD or 2.4% and in total 93.6% of export came to these goods.

Сrude oil, iron ores and concentrates, copper concentrate, molybdenum concentrates and zinc ores and concentrates were exported to China (100.0%), coal were exported to China (96.1%). Flouspar concentrates were exported to China (53.6%), the Russian Federation (46.1%); leather of bovine or equine animals were exported to China; 100.0 percent of combed cashmere to China; most of exported raw hides and skins, washed cashmere comes to China, and gold were exported to United Kingdom (100.0%) and 88.9 percent of total export belong to these goods.

Mongolia has exported goods to 37 foreign countries including

China (88.5%),
United Kingdom (6.6%),
the Russian Federation (1.2%) and 96.3% of whole export comes to these countries.
Goods and raw materials with value of 361.1 mln.USD were imported and the volume of total import increased by 83.9 mln.USD or 30.3% in comparison with the same period of 2017.

Imported goods consist of transactions paid in hard currency (94.9%), goods supplied by foreign loan (0.1%), goods imported as foreign aid (0.4%), goods imported as foreign investment (3.3%), processed goods (1.1%).

In total import machinery, mechanic equipment and parts thereof, electric appliances, parts thereof amounted with value of 80.1 mln.USD (22.2%), minerals-90.4 mln.USD (25.0%) and among them oil products were 75.0 mln.USD (83.0%), products of animal or vegetable origin and foodstuff 49.4 mln.USD (13.7%), vehicles and aircraft, parts there of 43.3 mln.USD (12.0%), plastics and rubber and articles thereof 15.4 mln.USD (4.3%), base metals and products thereof – 25.3 mln.USD (7.0%), chemical products – 22.8 mln.USD (6.3%) and 90.5% of the total import comes to these goods and products).

Goods with value of 1273.4 thous.USD have been imported as foreign aid from international financial and economic organizations and donor-countries. If we take into consideration the countries of origin Switzerland (39.6%), China (29.3%), Republic of Korea (14.8%).

The goods, donated from donor countries, came from the Switzerland (39.6%), China (29.2%), Japan (20.0%).

Goods worth 392.3 thous.USD were imported as foreign loan by the international financial and economic organizations and donor-countries and these goods were originating from different countries such as the USA (50.6%), China (25.1%), Republic of Korea (15.9%).

Total loan goods were imported as government loans. If we take into consideration the lenders, loan lent from Japan (72.1%) and from Republic of Korea (15.9%).

In total goods with value of 12.0 mln.USD were imported to the charter fund of joint ventures and companies with foreign investment and these goods were originating from different countries such as China (37.6%) and the Russian Federation (62.2%).

Mongolia has imported goods originating from 99 different countries including

Russian Federation (34.1%),
China (29.3%), 
USA (4.5%),
Japan (9.0%),
Republic of Korea (3.6%) 
Federal Republic of Germany (2.3%) and goods from these countries are equal to 82.8% of total import.

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NSO releases its January socio-economic report www.gogo.mn

Individuals earning 500,000 to 700,000 MNT a month made up 19.9 percent of the population in 2017, falling to 17 percent in January 2018. The economy saw 5.1 percent growth in 2017.

The nation's gross domestic product (GDP) reached 16.9 trillion MNT based on 2017's preliminary data, an increase of 5.1 percent over 2016.

As of January 2018, the state budget’s balanced income was 530.4 billion MNT, expenditure for debt repayment was 416.2 billion MNT, giving the balance an 114.2 billion MNT surplus.

Tax income increased by 29.8 percent compared to 2016, reaching 468.6 billion MNT.

Income tax increased by 44 billion MNT,
Social insurance income by 24.5 billion MNT,
Excise tax income by 24.1 billion MNT,
Foreign activity income rose by 10.6 billion MNT over January 2017.
Foreign trade volume reached 785 million MNT, with export totaling 423.8 million USD and import 361.1 million USD.

The consumer price index increased by 1.4 percent over December 2017, and by 6.9 percent compared to January 2017. Retail sector sales reached 15.6 trillion MNT in 2017, which increased by 18.4 percent over 2016.

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JSCs to distribute share dividends www.gogo.mn

The board of Talkh Chikher JSC voted to distribute share dividends from 2017's net profits to its shareholders.

Dividends per share will be 170 MNT. The company will finalize its shareholder list by April 6, and begin granting dividends at its official headquarters on July 1.

“MAKHIMPEX”

According to the Resolution No.:01 of “Mongol Post”JSC’s Board of Directors Meeting held on 13 February 2018, the Decision to distribute dividends of MNT100.00 per share from net profit of 2017 financial year has been approved.

The record date will be the registration date of Shareholders Annual Meeting5 April 2018 , and dividends will be paid to shareholders by cash at company building starting from 1 October 2018.

“MONGOL POST”

According to the Resolution No.:18/01 of “Mongol Post”JSC’s Board of Directors Meeting held on 13 February 2018, the Decision to distribute dividends of MNT 273.4 million or MNT2.74 per share from net profit of 2017 financial year has been approved.

The record date will be the registration date for 2018 Shareholders Annual Meeting, and dividends will be transferred to shareholders’ account at Mongolian Central Securities Depository /MCSD starting from 1 May 2018.

“ADUUNCHULUUN”

According to the Resolution No.:2 of “Aduunchuluun”JSC’s Board of Directors Meeting held on 7 February 2018, the Decision to distribute dividends of MNT 409.7 million or MNT130.00 per share from net profit of 2017 financial year has been approved.

The record date will be the registration date for 2018 Shareholders Annual Meeting, and dividends will be transferred to shareholders’ account at Mongolian Central Securities Depository /MCSD.

“TAKHI KO”

According to the Resolution No.:5 of “Takhi Ko”JSC’s Board of Directors Meeting held on 5 February 2018, the Decision to distribute dividends of MNT 128.5 million or MNT108.00 per share from net profit of 2017 financial year has been approved.

The record date will be the registration date for 2018 Shareholders Annual Meeting, and dividends will be transferred to shareholders’ account at Mongolian Central Securities Depository /MCSD/ within 1 May 2018.

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Labor Law amendments to be submitted to Parliament www.gogo.mn

Amendments to the Law on Labor were discussed during Cabinet's February 14 meeting, and it was decided that the amendments will be submitted to Parliament after the addition of some proposals from Cabinet members.

The Labor Law was ratified in 1999, and the authors of the amendments believe that a number of the law's articles don’t meet today’s needs and are outdated. The amendments cover relations between employers and employees, clarifying rights and obligations.

The amendments also include articles that would place restrictions on the employment of minors, workplace discrimination, establishing employment agreements without time constraints for permanent employment, part-time employment regulations, remote working regulations, basing salaries on skills and abilities, annual vacation requirements, and new regulations for vacation days for mining sector employees who work far from home for extended periods.

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Mongolian Foreign Minister to visit Tokyo www.news.mn

Foreign Minister Taro Kono plans to hold talks in Tokyo next week with his Mongolian counterpart D.Tsogtbaatar to gather the latest information on North Korea, a Japanese government source said Friday.

D.Tsogtbaatar, whose country maintains diplomatic ties with the North, met senior North Korean officials in Pyongyang earlier this month.

Kono and D.Tsogtbaatar could meet as soon as Thursday, the source said. Tsogtbaatar’s visit will be his first to Japan since becoming foreign minister in October.

According to the source, Kono will likely ask Mongolia to increase pressure on North Korea over its development of nuclear weapons and ballistic missiles. He will also seek cooperation on the issue of Japanese nationals abducted by North Korea in the 1970s and 1980s.

D.Tsogtbaatar met in Pyongyang with North Korea’s nominal head of state Kim Yong Nam and Ri Su Yong, the top official in charge of foreign affairs, the source said.

Wary of the recent thaw between North and South Korea over the Pyeongchang Winter Olympics in the South, the Japanese government wants to use Mongolia’s ties with North Korea to “gain whatever information it can” on leader Kim Jong Un’s “true intentions,” the source said.

Japan and Mongolia agreed in March last year to urge North Korea to comply with U.N. Security Council resolutions against its weapons programs.

They also agreed on a five-year action plan to further develop bilateral ties including in security and the economy.

Kono will aim to confirm progress on the plan with D.Tsogtbaatar and strengthen the strategic partnership between Japan and Mongolia, the source said. (Kyodo)

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Mongolian trio Davaadorj, Nyamsuren and Battulga switch to UAE www.judoinside.com

Three Mongolian athletes make a remarkable switch and not the least. Former World number one Davaadorj Tumurkhuleg and Grand Slam Paris winner will switch to the United Arab Emirates.

Also Nyamsuren Dagvasuren who won bronze at the Grand Slam in Tokyo will join Davaadorj. Heavyweight and Olympian for Mongolian Temuulen Battulga is the third man to switch to the UAE.

Possible in March they want to compete for the Emirates. If they won’t make that deadline the aim is to compete in May.

The United Arab Emirates previously made a major enquiry taking up a Moldovan team into the UAE. A successful move that delivered Victor Scvortov, Ivan Remarenco won World Championships medals and Sergiu Toma won Olympic bronze in Rio. All athletes came from Moldova. With these strong Mongolian athletes the UAE anticipates again on the ‘market’ and opportunities in a country where there is a lot of competition.

Davaadorj Tumurkhuleg is currently ranked 17th in the World U66kg but has Ganbold ad Dovdon for him. Nyamsuren Dagvasuren is even ranked 7th in the world U81kg, close to Uuganbaatar Otgonbaatar (5th). This category has relatively not much competition in Mongolia. Temuulen Battulga (22) faces the competition of Duurenbayar Ulziibayar (14).

Profile Tumurkhuleg Davaadorj

Mongolian judoka Davaadorj Tumurkhuleg won various events such as the Grand Prix in 2015 in Mongolia. Davaadorj took the world #1 position U66kg and was double medallist at World Junior Championships. Davaadorj won the Asian Games in 2014 in Incheon. He won the Grand Slam of Paris in 2015. He finished 7th at the 2016 Olympic Games. He won 30 World Cup medals.

Profile Dagvasuren Nyamsuren

Dagvasuren Nyamsuren of Mongolia wins World Cup medals since 2012. He won bronze at the Grand Prix Jeju in 2014 and Grand Prix medals in 2015 in Tbilisi and Ulaanbaatar. Nyamsuren won Asian Games bronze U81kg in 2014. He won the Grand Prix Ulaanbaatar in 2016. He took bronze at the Grand Prix in Qingdao in 2016. He captured silver at the Grand Prix in Tashkent in 2017 and bronze at the Grand Slam in Tokyo in 2017.

Profile Temuulen Battulga

Temuulen Battulga won bronze at the World Junior Championships in 2008. He won three bronze Asian Championships. Battulga won the World Cup in Ulaanbaatar three times and Tashkent in 2014. He collected 19 World Cup medals such as silver at the Grand Slam in Paris in 2013 and bronze in 2012. He was flag bearer for the 2016 Olympic Games in Rio. He took bronze at the Grand Slam in Ekaterinburg in 2017.

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Oyu Tolgoi notified of Government of Mongolia’s cancellation of Power Sector Cooperation Agreement www.turquoisehill.com

Turquoise Hill today (Feb 15) announced that Oyu Tolgoi has received notification the Government of Mongolia (Government) has
canceled the Power Sector Cooperation Agreement (PSCA), which was signed in 2014. The Government’s cancellation,
under Section 1.3 of the PSCA, indicates that the Tavan Tolgoi power project is no longer a viable option.
In August 2014, the Government of Mongolia and Oyu Tolgoi signed the PSCA for the exploration of a Tavan Tolgoibased
independent power producer. The agreement provided a framework for long-term strategic cooperation between
the Mongolian Government and Oyu Tolgoi to deliver a comprehensive energy plan for the South Gobi region.
Participation in the PSCA met Oyu Tolgoi’s obligation in the 2009 Oyu Tolgoi Investment Agreement (Investment
Agreement) to establish a long-term power supply within Mongolia four years from the commencement of commercial
production. As a result of the Government’s cancellation, effective February 15, 2018 long-term power for Oyu Tolgoi
must be domestically sourced within four years.
Oyu Tolgoi, Turquoise Hill and Rio Tinto are committed to fulfilling all requirements under the Investment Agreement and
are continuing to evaluate all viable power options, including construction of an Oyu Tolgoi based power plant. A final
decision on the outcome, cost or financing of a permanent domestic power supply has not been concluded at this time.
The cost of a power solution for Oyu Tolgoi is not included in the Company’s $5.3 billion expansion capital project
estimate for the development of Hugo North Lift 1.
Domestically-sourced power for Oyu Tolgoi is addressed in Chapter Seven (Infrastructure) of the Investment Agreement

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