1 TOP 10 RICHEST PEOPLE IN MONGOLIA 2018 MONGOLIAN BILLIONAIRES WWW.ELITESHARED.COM PUBLISHED:2018/07/22      2 IRKUTSK REGION'S EXPORT OF CHICKEN EGGS TO MONGOLIA ALMOST DOUBLED WWW.RUSEXPORTER.COM PUBLISHED:2018/07/21      3 86 PERCENT OF ACTIVE ENTITIES IN MONGOLIA HAVE UP TO 9 EMPLOYEES WWW.GOGO.MN PUBLISHED:2018/07/20      4 MONGOLIA TAKES STEPS TO BOOST CASHMERE PRODUCTION WWW.NEWS.MN PUBLISHED:2018/07/20      5 HIV INFECTIONS RISES TO 262 IN MONGOLIA WWW.XINHUANET.COM PUBLISHED:2018/07/20      6 FRONTCLEAR FACILITATES A LANDMARK TRANSACTION WITH STATE BANK MONGOLIA, EBRD AND ING BANK WWW.KTVN.COM PUBLISHED:2018/07/20      7 MONGOLIA COULD BE RIO'S COPPER GROWTH KEY WWW.MINING-JOURNAL.COM PUBLISHED:2018/07/20      8 FOREIGN OFFICE MINISTER MARK FIELD VISITS MONGOLIA WWW.GOV.UK PUBLISHED:2018/07/20      9 ZOO-BRED PRZEWALSKI’S HORSES ARE FREED INTO THE PLAINS OF MONGOLIA WHERE THEIR ANCESTORS ROAMED FOR CENTURIES HAVING BATTLED BACK FROM JUST ONE SURVIVING WILD ANIMAL WWW.DAILYMAIL.CO.UK PUBLISHED:2018/07/20      10 MONGOLIAN AND CHINESE JOINT VENTURE ESTABLISHED WWW.MONTSAME.MN PUBLISHED:2018/07/20      ТАВАНТОЛГОЙ-ЗҮҮНБАЯН ЧИГЛЭЛИЙН ТӨМӨР ЗАМЫГ БАРИХ АЖИЛ ЭХЛЭЭД БАЙНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/22     ШИНЭ УРГАЦ ГАРЧ ЭХЭЛСЭН Ч НОГООНЫ ҮНЭ ӨНДӨР ХЭВЭЭР БАЙНА WWW.ZGM.MN НИЙТЭЛСЭН:2018/07/20     АВТОЗАМД ҮҮССЭН ХОХИРЛЫН ХЭМЖЭЭ 1,3 ТЭРБУМ ТӨГРӨГТ ХҮРЧЭЭ WWW.MEDEE.MN НИЙТЭЛСЭН:2018/07/20     BURBERRY БРЭНД 32.6 САЯ АМ.ДОЛЛАРЫН ҮНЭ БҮХИЙ БАРАА БҮТЭЭГДЭХҮҮНЭЭ ШАТААЖЭЭ WWW.GOGO.MN НИЙТЭЛСЭН:2018/07/20     ИРГЭДЭЭС ЦУГЛАСАН ХАНДИВААР ГАЛ УНТРААХ ТОНОГ ТӨХӨӨРӨМЖ АВЧЭЭ WWW.DNN.MN  НИЙТЭЛСЭН:2018/07/20     ГААЛИЙН БАЙГУУЛЛАГЫН ТӨСӨВТ ТӨВЛӨРҮҮЛСЭН ОРЛОГО 1.2 ИХ НАЯД ТӨГРӨГТ ХҮРЧЭЭ WWW.NEWS.MN НИЙТЭЛСЭН:2018/07/20     ИХ БРИТАНИЙН АЗИ НОМХОН ДАЛАЙН БҮС НУТГИЙГ ХАРИУЦСАН САЙД МАРК ФИЙЛД МХБ-Д ЗОЧИЛЛОО WWW.NEWS.MN НИЙТЭЛСЭН:2018/07/20     ЭКО АЛТНЫ УРАМШУУЛЛЫГ МОНГОЛБАНК ОЛГОХГҮЙ WWW.EAGLE.MN НИЙТЭЛСЭН:2018/07/20     ЯМАШИТА МАМОРҮ: МОНГОЛД ДУНДАЖ ЦАЛИНГ ТЭТГЭВРИЙН ХЭМЖЭЭТЭЙ УЯЛДУУЛЖ ТООЦОХ МЭРГЭЖЛИЙН БАГ ХЭРЭГТЭЙ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/20     ХЯТАД УЛС БИЗНЕСИЙН ОРЧНОО САЙЖРУУЛНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/19    

Events

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

NEWS

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London Blockchain Startup FarmaTrust Partners With Mongolian Government to Stop Fake Medicine www.coinannouncer.com

London, 12 February 2018 — FarmaTrust, a UK blockchain startup and global tracking system has officially signed a partnership with the Mongolian government to pilot a one-year project aimed at preventing the creation and distribution of counterfeit medications. The project will include both governmental and non-governmental parties in Mongolia, including the Specialized Inspection Agency of Tuv Province of Mongolia and the Mongolian e-Government Center NGO.

The pilot project will kickoff in the Tuv Province, a province outside of the capital city of Ulaanbaatar, and include cooperation from Korea, Ghana, and Mongolia. Immediate tasks include conducting feasibility reports and helping government monitoring and inspection of pharmacies, and pharmaceutical supply chains, including warehouses and retailers.

FarmaTrust CEO, Raja Sharif, explains, “This project is a great multinational collaboration to mix blockchain and other emerging technologies to secure and optimize the pharmaceutical supply chain. Mongolia is a great starting point. With a population of just 3 million, tracking and implementation can quickly scale on the national level. Mongolia is also important as a strategic middle point between Russia and China, two countries that have experienced large amounts of counterfeit medicine in the past.”

FarmaTrust is providing the knowledge and experience in blockchain supply chain tracking with the goal of creating an immutable ledger that can track and secure pharmaceutical supply chains using big data and artificial intelligence. FarmaTrust has received widespread support from major media and organizations interested in helping eliminate the counterfeit pharmaceutical industry that results in over 120,000 deaths per year.

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Mongolian journalists reject CMJ’s latest decisions www.expats.news.com

The 17th Congress of the Confederation of Mongolian Journalists (CMJ) took place last Thursday and appointed a new head but several members protested that the meeting wasn’t organized according to their Code of Conduct and that their opinon was disregarded.

During a press conference announced on February 9, President of the Association of Daily Newspapers E.Dolgion stated, “Yesterday (February 8)’s meeting was not a proper congress of CMJ. Why wasn’t it held openly? Every journalist has the right to attend it. Moreover, a new Code of Conduct was approved before we even got the chance to read it through.”

E.Dolgion stated that a proposal to renew any organization’s internal Code of Conduct should be presented five days prior to its discussion session.

“We left before the voting for a new head started. We’re opposing this meeting because its main purpose was to pass a new Code of Conduct, which we haven’t read through, and put journalists under a certain political party’s influence rather than decide the new leader of the Confederation of Mongolian Journalists,” he said.

“Profit was marked as one of the values of the confederation,” criticized former CMJ board member Ts.Oyundari. “After we left, 181 people continued the meeting. We believe that all decisions made at the meeting are invalid as the attendance didn’t meet the requirement.”

Media representatives at the press conference expressed strong disapproval of the latest CMJ decision, which specified to omit Article 1.6 in CMJ’s Code of Conduct. This article states that CMJ’s president, first-deputy president and deputy president must be a nonpolitical party member.

According to the new Code of Conduct, board members will be appointed through a conference, only the president will be non-party, a new member organization will pay a one-time fee of one million MNT, and the members of the board will be fined with a fixed amount for failing to pay their taxes.

Kh.Mandakhbayar, a former member of the Mongolia People’s Party and editor of Zindaa magazine, was elected as the successor of B.Galaarid with 87.5 percent support through a closed poll.

The newly-elected President Kh.Mandakhbayar pledged to broaden the reach of the confederation and strive towards executing his action plan.

His action plan consist of targets to develop professional and independent journalism, enhance and promote correct journalistic ethics, carry out 1,000 – apartment program for journalists, include journalists in risk insurance, strengthen legal environment related to journalism, restructure CMJ, and broaden its foreign relations.

D.Enkhtuya, founder of TV-2 channel, and T.Oyun-Erdene, member of the National Board of the Mongolian National Broadcaster, competed against Kh.Mandakhbayar for CMJ president position. Director of the Mongolian National Public Radio and Television and senior journalist L.Ninjjamts and State Honored Cultural Worker U.Khurelbaatar were also nominated but they decided to withdraw before the polling started.

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Redpath shares milestone in Gobi Desert www.nugget.ca

At 10 metres in diameter and 1,284 metres deep, The Redpath Group along with Hasu Megawatt, through their joint venture company, Dayan Contract Mining, has reached the bottom of the No. 2 shaft at the massive Oyu Tolgoi Mine in the south Gobi Desert.

Dayan blasted the last bench Jan. 13 after a lengthy shaft-sinking program that endured a number of prolonged work shutdowns at the project.

The milestone was “…made all the more impressive by the exceptional safety performance,” stated Turquois Hill Resources project director Michel Charron

Oyu Tolgoi’s 2 shaft is a combined skipping and service shaft which will support the early development and extraction activities at the South Hugo Dummett block cave mine.

Situated in the south Gobi Desert, DCM employed approximately 200 Mongolian nationals to make up 75 per cent of the shaft workforce in order to complete the construction project.

In addition to shaft sinking efforts, nearly 135,000 cubic metres of mass excavation has been completed in order to support the high tonnage installations yet to be completed.

The Dayan team is currently focusing on the installation of the 7.2-metres diameter production friction hoist and 6.75-metre diameter service hoist installation atop the concrete headframe, concurrent with shaft outfitting efforts.

Once complete, this installation will be one of the largest of its kind in the world, capable of hoisting 30,000 tons per day in rock, and transporting people and supplies via the 24.3-square-metre service cage.

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Thai central bank restricts cryptocurrency trading www.nhk.or.jp

The Bank of Thailand has asked financial institutions in the country not to deal with cryptocurrencies.

Bank officials say these currencies are not recognized as legal tender, and there is no law to regulate them.

The central bank said on Monday it had instructed banks and credit card firms not to engage in investment or trading in digital currencies.

The central bank also asked financial institutions not to allow customers to use credit cards to buy virtual currencies, and not to give advice about investment in cryptocurrencies.

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UB administration seeks partner in bike rental project www.montsame.mn

Ulaanbaatar /MONTSAME/ The capital city administration is looking for an organization to cooperate on its ‘UBIKE’ or Bike Rental Service project.

The administration is working towards introduction of bike rental service in Ulaanbaatar, following the examples of major cities around the world.

Individuals and entities interested in working on the project will have to submit their plan to the Mayor’s Office until March 1. The plan should cover aspects including the number of bicycles, location, technical solution, quality and technical indicators of the rental bicycles, rental payment value, introduction of monitoring system, maintenance service and operations and finance.
Kh.Aminaa

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Neil Saker: Mongolia should increase personal development investments www.montsame.mn

Ulaanbaatar /MONTSAME/ Central bank of Mongolia developed the ‘Ulaanbaatar consonance’ project to develop mid and long term policies on ensuring Mongolia’s economic growth. A discussion was organized by the Bank of Mongolia in order to include suggestions from banks and financial organizations in the project.

The project has 8 fundamental principles based on Mongolia’s features and experiences of developed countries and reflects major government actions for sustainable economic growth, said the director of Research and Statistics Department of the Bank of Mongolia, D.Gan-Ochir.

“Mongolia must conduct a proper budget policy. In other words, the Government should invest revenue from mining and other sectors in personal and infrastructure development. It is extremely important to improve human development or the people’s education. Educated people will work in multiple sectors developing multi-pillar economy. In addition, the exchange rate policy must be flexible. This will allow to overcome any exchange rate related difficulties with minimal loss. On the other hand, employment should be increased. Mongolia must have a fair multiple tax system to eliminate income difference. Generally the project presented today includes all of the above mentioned. So we’ll support the project” said the IMF Resident Representative for Mongolia, Neil Saker.

The suggestions and conclusions made by the professional organizations during the discussion will be included in the ‘Ulaanbaatar consonance’ project and submitted to decision makers.

B.Misheel

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Revenue of MNT223.4 billion to come from oil export in 2018 www.montsame.mn

Ulaanbaatar/MONTSAME/ On February 12, the Ministry of Mining and Heavy Industry called a regular press briefing ‘Transparent and Accountable Mining’.

At the press conference, the Mining and Heavy Industry Minister D.Sumiyabazar briefed about last year’s report on the sector and plans for 2018.

For instance, the Mineral Resources and Petroleum Authority expects to accumulate MNT291.8 billion at the state budget in 2018, of which MNT223.4 billion will come from oil export. As of January, 2018 the sector accumulated MNT21.9 billion, of which MNT19.2 billion came from oil export.

In 2018, it is planned to extract 8.1 million barrel or 1.1 million tons oil, accumulating MNT223.4 billion at the state budget. As of February 1, 2018, it has extracted 616.8 thousand barrel or 83.6 thousand tons of oil, with a 7.6 percent fulfillment of the plan. Moreover, 558.2 thousand barrel or 75.7 thousand tons oil were exported. The oil export in January brought MNT19.2 billion to the state budget.

In addition, the Minister said that Mongolia has a reserve of oil products equal to 38-days’ consumption by February 5, 2018.

M.Unurzul

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The stock exchange regulations revised www.montsame.mn

Ulaanbaatar /MONTSAME/ The Financial Regulatory Commission has approved the revised version of the ‘Regulation on Security registration’, ‘Regulation on Security index calculation’ and the ‘Trading Regulation’ of the ‘Mongolian Stock Exchange’, State-owned joint stock company.

The revised Regulation on Security registration has improved the regulation of double registration of securities and made registration process accord with the international common practice. It is notable that major reforms have been made n the Regulation on Security index calculation including detailed regulation of the index calculator and classification index calculation.

The Securities trading regulation has amendments such as defining closing price at the weighted average trading over the last one-hour to make the closing price more realistic.

The revised and amended regulations will be effective from February 19.
B.Misheel

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China's steel industry improves as capacity reduction pays off www.chinadaily.com.cn

BEIJING - China's steel industry posted higher prices and better profits last year as a result of progress made in reducing excessive capacity, according to the Ministry of Industry and Information Technology (MIIT).

The steel price index came in at 121.8 at the end of December, up 22.4 percent from the beginning of 2017, the MIIT said.

It attributed the increase to cutting overcapacity, a ban on low-quality steel, production restrictions during winter, and recovering market demand.

China slashed its crude steel production capacity by more than 50 million tons in 2017, exceeding its annual target, as part of efforts to improve the competitiveness of the bloated sector.

The country also phased out the production of 140 million tons of low-quality steel made from scrap metal last year.

The industry's profitability improved, with major steel producers' profits surging 613.6 percent, the MIIT cited data from the China Iron and Steel Association as saying.

Despite the improvement, the MIIT warned of more difficulties in further capacity reduction as the increased profits may lure some producers to launch new projects.

China plans to eliminate 100 million to 150 million tons of crude steel capacity in the five years from 2016.

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Bitcoin will not recover until panic recedes - analysts www.rt.com

The fear that has gripped the cryptocurrency market is keeping bitcoin and other digital coins from making new gains, according to analysts polled by RT.

“Growth will not happen until the current panic recedes, and this may take weeks and months,” Mikhail Mashchenko, an analyst at social network for investors eToro, told RT.

"Those who want to invest in the cryptocurrencies may try to start opening positions on it. At least, it is much more reasonable than waiting for the return of the exchange rate to its maximum highs.”

The last week’s sell-off was partially triggered by a panic on the US stock markets, since venture capital like bitcoin and other cryptocurrencies is the first thing investors jettison when turbulence occurs in traditional markets, he added.

Nikolay Kotov, analyst at Analitika Online, told RT that current prices represent a good opportunity to buy bitcoin, since this year’s sell-off is not the first tough period for digital assets.

“The history of stock markets repeats itself. It is unprofessional to draw conclusions because of the bearish candle in BTC/USD pair. Personally, I buy bitcoin and ethereum and take long-term positions with targets 33 percent higher than previous local highs,” Kotov said.

Bitcoin and other cryptocurrencies were recovering strongly on Monday. The leading cryptocurrency surged almost 10 percent to $8,700, ethereum jumped 8.5 percent to $870, and ripple surged 13 percent to $1.10. All of the top 100 cryptocurrencies on Coinmarketcap were trading in positive territory.

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