1 FOREIGN RELATIONS OF MONGOLIA’S ROAD TRANSPORT SECTOR BROADENING WWW.MONTSAME.MN PUBLISHED:2019/02/21      2 MONGOLIA EXPRESSES READINESS TO CONTRIBUTE TO STRENGTHENING ASIA-EUROPE COOPERATION WWW.MONTSAME.MN PUBLISHED:2019/02/21      3 OYU TOLGOI FUNDED 35.1 KM ROAD OPENS IN KHANBOGD WWW.GOGO.MN PUBLISHED:2019/02/21      4 POLYMER BITUMEN TO BE DOMESTICALLY PRODUCED WWW.MONTSAME.MN PUBLISHED:2019/02/21      5 KHURELBAATAR CHIMED: 319 ENTITIES DREW LOANS FROM TWO FUNDS WWW.ZGM.MN PUBLISHED:2019/02/21      6 CONSTRUCTION OF TAVANTOLGOI-GASHUUNSUKHAIT ROAD TO BE INTENSIFIED WWW.MONTSAME.MN PUBLISHED:2019/02/20      7 OVER 30 MEASURES PLANNED FOR REDUCTION OF ENVIRONMENTAL POLLUTION WWW.MONTSAME.MN PUBLISHED:2019/02/20      8 MONGOLIA SAYS IT EARNS OVER 169 MLN USD FROM COAL EXPORTS TO CHINA IN JAN WWW.HELLENICSHIPPINGNEWS.COM  PUBLISHED:2019/02/20      9 RUSSIA’S GAZPROM TO START CHINA GAS PIPELINE BY DECEMBER 1 WWW.RT.COM PUBLISHED:2019/02/20      10 MONGOLIA'S FOREIGN TRADE UP 41.6 PCT IN JAN. WWW.XINHUANET.COM PUBLISHED:2019/02/20      УГСАРМАЛ ОРОН СУУЦНЫ ДУЛААЛГАД ЗОРИУЛЖ 12.7 ТЭРБУМ ТӨГРӨГИЙГ УЛСЫН ТӨСВӨӨС ГАРГАХААР БОЛЖЭЭ WWW.IKON.MN НИЙТЭЛСЭН:2019/02/21     2018ОНД ЦАГААН БУДАА , ЭЛСЭН ЧИХЭР , ТАХИАНЫ МАХНЫ ИМПОРТ 24-32 ХУВИАР ӨСЖЭЭ WWW.BLOOMBERGTV.MN  НИЙТЭЛСЭН:2019/02/21     ДЦС IV: 2018 ОНД НИЙТ АШИГ 4.7 ДАХИН ӨСӨЖ , 4.48 ТЭРБУМ ТӨГРӨГ БОЛСОН WWW.BLOOMBERGTV.MN  НИЙТЭЛСЭН:2019/02/21     ТУСГАЙ САНГУУДААС ГАРГАСАН ЗЭЭЛИЙН 100 ОРЧИМ ТЭРБУМ ТӨГРӨГ ХУГАЦАА ХЭТЭРСЭН ӨР БОЛЖЭЭ WWW.BLOOMBERGTV.MN  НИЙТЭЛСЭН:2019/02/21     МОНГОЛ УЛСЫН БОРЛУУЛАЛТЫН МЕНЕЖЕРҮҮДИЙН ИНДЕКС СҮҮЛИЙН 12 САРД АНХ УДАА УНАЛТЫН БҮСЭД ШИЛЖИВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2019/02/21     2018 ОНД ХАМГИЙН ЧИНЭЭЛЭГ БҮЛГИЙН ХЭРЭГЛЭЭ ЯДУУ БҮЛГИЙНХНЭЭС 5.1 ДАХИН ИХ БАЙВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2019/02/21     ХОВД ГОЛД ОСОЛДСОН 6 НАСТАЙ ХҮҮХДИЙН ЭРЛИЙГ ЗОГСООЛОО WWW.MONTSAME.MN НИЙТЭЛСЭН:2019/02/21     ДБНХ-НООС П.ОРХОНЫ БАРИЛДАХ ЭРХИЙГ 4 ЖИЛЭЭР ХАСАВ WWW.MONTSAME.MN  НИЙТЭЛСЭН:2019/02/21     УУХҮЯ: II САРЫН БАЙДЛААР НИЙТ НУТАГ ДЭВСГЭРИЙН 5.6 ХУВЬД АШИГТ МАЛТМАЛЫН ЛИЦЕНЗ ОЛГОСОН WWW.BLOOMBERGTV.MN  НИЙТЭЛСЭН:2019/02/20     300 ОРТОЙ ТӨРӨХ ЭМНЭЛГИЙН БАРИЛГЫН АЖИЛ 80%-Д ХҮРЧ ГУРАВДУГААР САРЫН 1-НЭЭС ДУЛААНД ХОЛБОГДОХООР БОЛЖЭЭ WWW.IKON.MN НИЙТЭЛСЭН:2019/02/20    

Events

Name organizer Where
“Doing business with Mongolia”, “UK Investors show” бизнес хөтөлбөр March 27-April 02. 2019 ЛОНДОН ХОТ, ИХ БРИТАНИ Mongolian Business Database London UK
SYMPOSIUM ON GLOBAL MARKETS Nationalism and Protectionism: The United States in the International Arena June 17-18, 2019 The Center for American and International Law Plano, Texas, USA The Center for American and International Law (CAILAW) Plano Texas June 17-18 2019
"Open to Export" ICC WTO International business award ICC WTO London

NEWS

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Ancient scriptures at risk of spoliation www.zgm.mn

President Battulga Khaltmaa visited the National Library of Mongolia last Saturday, during which Ichinkhorloo Bayarkhuu, the Director of the Library, notified him of immediate need of repairing the facility. Established in November 1921, the library was originally built to contain 500,000 books. The facility currently stores over 3.6 million books and tomes, including 1.5 million ancient scriptures and rare books. Ms. Ichinkhorloo warned, “The independence of wisdom left behind by our ancestors is close to destruction and decay” as the library’s capacity has been exceeded by more than seven times. Due to high precipitation this year, the building was corroded with more water seepages visible around the building. Although the Government has decided to rebuild the library, the lack of financing delayed the construction; thus, the authorities of the National Library had a blueprint of expansion drawn in 2013 and estimated its cost at MNT 4.7 billion.

According to Ms. Ichinkhorloo, MNT 4.7 billion is fairly small compared to the cost of constructing a new facility; thus expressed an immediate need to expand the current facility in order to safekeep precious and unique books and scriptures. The library authorities are annually conducting maintenances; however, the water seepage is impossible to be stopped, noted Ms. Ichinkhorloo and requested the President to look into the matter. In response, the President remarked, “I am visiting the facilitation because the preservation and protection of valuable and precious books is becoming a growing problem. The library officials are suggesting to expand the library by over MNT 4 billion due to the delay in the new facility. This is out of desperation. The construction of the new library has been obstructed since 2012 and same goes to the expansion. Therefore, I will focus on attracting public attention and raising fund for the library.

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Mongolian Ambassadors to Sweden, Canada and UK receive their credentials www.news.mn

For over a year-and-a-half the appointment of Mongolian ambassadors to several foreign nations has been pending. On Thursday, the newly-assigned Ambassador of Mongolia to Sweden O.Enkhtsetseg, the Ambassador of Mongolia to Canada Ya.Ariunbold, and the Ambassador of Mongolia to the United Kingdom N.Tulga received their letters of credence from Mongolian President K.Battulga.

During the meeting with new the ambassadors, President Kh.Battulga underlined that the service of an ambassador is not a post-retirement job for politicians, while expressing his solid stance against this type of appointment of ambassadors.

In addition, President Battulga tasked the ambassadors to take active initiatives toward protecting the rights of Mongolian nationals and Mongolia while ensuring immediate success because the Ministry of Foreign Affairs deems them to be highly-skilled and professional diplomats. In particular, the President mentioned the matters of education, healthcare, high technology, and training of a specialised work force, instructing the Ambassadors to settle these issues, including training specialized work force, finding scholarships for students, and studying the possibility of delivering costly healthcare services to Mongolians for free, within half year.

President Battulga also asked the ambassadors to always keep their embassies open to Mongolian nationals and to work toward broadening bilateral relations by means of forwarding initiatives in multilateral cooperation between countries.

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Central Bank of Mongolia purchases 2.8 tonnes of gold www.news.mn

The Central Bank of Mongolia (Mongol Bank) said on Friday that it had purchased 12.2 tonnes of gold from legal entities and individuals in the first eight months of this year, including 2.8 tonnes in August. The bank is aiming to increase gold purchases to 22 tonnes in 2018 and to raise reserve of foreign currency to USD 700 million from gold purchases.

The bank’s gold purchase is high due gold taxes decreased to 2.5 percent under ‘Gold’ programme. However, low royalty taxes on gold are about to expire on 2019. In 2010, the bank’s gold purchase was low to two tonnes in a year due to high taxes.

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Alibaba’s Jack Ma making arrangements to step down in September 2019 www.rt.com

China’s richest man and the founder of Alibaba retailer will step down in exactly one year on September 10, 2019, with chief executive officer Daniel Zhang taking over as chairman, the company has announced.
“With the approval of our board of directors, one year from today on September 10, 2019 which also falls on Alibaba’s 20th anniversary, Group CEO Daniel Zhang will succeed me as chairman of the board of Alibaba Group,” Ma said in a letter on Monday.

The billionaire will remain as executive chairman of the company for the next 12 months to mentor his successor and ensure a “smooth and successful transition.” Afterwards the 54-year-old entrepreneur plans to stay on the board of directors until the annual shareholders meeting in 2020.

The businessman described the move as a step up to the “next level of corporate governance,” and transition from a company that fully relies on individuals to “one built on systems of organizational excellence and a culture of talent development.”

“Alibaba was never about Jack Ma, but Jack Ma will forever belong to Alibaba,” Ma said in his letter.

In the announcement, which coincided with his 54th birthday, the Chinese business magnate noted that his 46yo successor Zhang has been with the company for 11 years and has demonstrated “superb talent, business acumen and determined leadership.”

As for China's richest man himself, he still has “lots of dreams to pursue,” which might even see the former teacher to “return to education,” which he called a “blessing .”

“The world is big, and I am still young, so I want to try new things – because what if new dreams can be realized?!”

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Hong Kong tops New York as home to world’s wealthiest individuals www.rt.com

A study by research firm Wealth-X has found that the number of ultra-rich people rose 13 percent worldwide in 2017, totaling about 256,000 individuals with combined assets of $31.5 trillion.
According to the report, Asia saw the fastest growth, driven by mainland China and Hong Kong. The growth in the number of people worth $30 million or more (the so-called ultra-high-net-worth individuals) surged 19 percent in Asia, twice the growth rate of North America.

“Asia-Pacific is forecast to close the ultra-wealth gap with other regions over the next five years, but is expected to remain behind Europe, the Middle East and Africa in absolute terms,” the report said.

Asia’s financial hub Hong Kong saw its ultra-wealthy population explode by 31 percent in 2017 to more than 10,000, overtaking New York's 9,000 super-rich residents for the first time. Tokyo ranked third with 6,800 multimillionaires. China is home to 26 of the world’s 30 fastest-growing cities for the ultra-rich.

“Hong Kong’s rise in terms of the number of ultra-high-net-worth individuals is mainly because of its trade and investment links to China’s mainland, where new, self-made wealth is growing at the fastest pace,” said the head of Wealth-X Institute Vincent White.

The report found that the world’s ultra-rich held more of their wealth (some 35 percent) in liquid assets such as cash. Private holdings accounted for about 32 percent, while public holdings stood at 26 percent. Alternative investments such as real estate, art and yachts made up 6.6 percent of total assets.

Wealth-X also said that 35,000 women made the ultra-rich list last year, accounting for a record-high share of nearly 14 percent. The report forecasts that in the next four years “Asia is expected to experience the strongest growth” in the world among those worth $30 million or more. By 2022 the region is expected to have 108,000 ultra-high-net-worth individuals, growing by 50 percent. North America will grow by less than a third over that time period, to 132,000.

That growth would help Asia to “close the gap with other regions,” said the report.

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Mongolia launches campaign to protect children from cyber crimes www.punchng.com

Mongolia has launched a National Campaign to protect children from cyber crimes and strengthen parental control over the social media usage of children, Mongolia’s National Police Agency said on Thursday.

“The number of Internet users has been growing day by day. Safety for kids and teens on social media in our country is generally under threat,’’ said Davaasambuu Budzaan, head of the division to protect children from crime at the National Police Agency.

Before 2010, about 20 cyber crimes were registered in Mongolia annually and since then, the number of online crimes in the country has increased significantly, Budzaan said.

“For example, a total of some 300 cyber-related cases, including child sexual abuse through the internet and creation of child pornography, have been registered across Mongolia in the first half of this year,’’ he said.

He urged all parents and relevant officials to reinforce their control over the social media usage of children, including removing strangers from their children’s list of friends on social networking websites.

During the 20-day campaign, relevant officials will give lectures on how to use social media effectively at more than 700 general education schools across the country.

Facebook is the most popular social network among Mongolians.

According to data by the Mongolian government, there are more than 1.5 million Facebook users in the country with a population of some three million.

Almost 97 per cent of the pupils in Ulan Bator, the capital of Mongolia, and some 93 per cent of rural pupils are active Facebook users.

(Xinhua/NAN)

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China wants to buy more natural gas from Russia & diversify supplies www.rt.com

The world’s fifth largest consumer of natural gas, China, is planning to boost imports from neighboring Russia, according to the Chinese Board of Energy Affairs. Beijing will also buy more gas from Kazakhstan.
At the same time, China is set to promote diversification of natural gas imports, an official source said, as quoted by government-controlled China News Service.

“In 2017, China imported 95.6 billion cubic meters of natural gas via the Central Asian and China–Myanmar gas pipelines from Turkmenistan, Uzbekistan and Myanmar,” the source told the agency. “In the near future, imports of gas from Russia and Kazakhstan will be increased.”

Power of Siberia: Russia’s mega gas pipeline to China almost complete — RT Business News
One of the world’s longest gas pipelines – the Power of Siberia – which is being created to deliver natural gas from Russia to China, is now 93 percent complete.

In 2014, Russian energy giant Gazprom and the China National Petroleum Corporation (CNPC) signed a contract for gas deliveries via Power of Siberia – one of the world’s longest gas pipelines currently under construction. Under the deal, China is set to buy 38 billion cubic meters of Russian gas annually for 30 years. The supplies are scheduled to begin in December.

At the same time, Russian gas producer Novatek, in cooperation with the CNPC, is working on the implementation of Russian-led energy project Yamal LNG. China has purchased the first two batches of liquefied natural gas from Yamal.

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Power of Siberia: Russia’s mega gas pipeline to China almost complete www.rt.com

One of the world’s longest gas pipelines – the Power of Siberia – which is being created to deliver natural gas from Russia to China, is now 93 percent complete.
According to Russian energy major Gazprom, 119 operational gas wells have been completed at the Chayandinskoye field in Yakutia. At the moment, the main technological equipment is being installed there. More than 2,000km of pipelines have been welded and laid from Yakutia to the Russian-Chinese border.

The construction of the two-thread underwater crossing of the pipeline across the Amur River is 78 percent complete, Gazprom said.

The Power of Siberia pipeline, which is also called the ‘Eastern Route,’ is one of the major projects between Russia and China. The pipeline could help Russia become one of China’s main providers of natural gas as demand in the country increases.

The 3,000km pipeline will be longer than the distance between Moscow and London. Deliveries should begin in late 2019. The deal on the ‘Eastern Route’ took more than a decade to negotiate. Last July, Gazprom and the China National Petroleum Corporation (CNPC) inked an agreement to start gas deliveries via the route.

In May 2014, the two companies signed a $400 billion, 30-year framework to deliver 38 billion cubic meters of Russian gas to China annually. In 2017, Gazprom invested 158.8 billion rubles ($2.3 billion) in the project. This year it plans to invest another 218 billion rubles ($3.2 billion).

Moscow and Beijing plan to build another pipeline – Power of Siberia 2 or the ‘Western Route’ – that will deliver another 30 billion cubic meters of natural gas from Russia to China. According to the head of Gazprom, Aleksey Miller, China’s growing gas consumption, which was more than 200 billion cubic meters in 2016, will soon reach 300 billion cubic meters.

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China's CITIC to be Ivanhoe Mine’s top shareholder in $548m-deal www.mining.com

A unit of Chinese state-run conglomerate CITIC will become this month Canada's Ivanhoe Mines’ (TSX:IVN) biggest shareholder following billionaire Robert Friedland’s company’s decision to sell a 20% stake for about $548 million (C$723m).

The deal, announced in June, has received all necessary approvals from China’s regulatory agencies, so it’s expected to close on Sep. 19, the companies said in a statement.

As part of the transaction, CITIC Metal has already loaned $100 million to Ivanhoe Mines, which is using the funds advance projects in southern Africa, including its flagship Kamoa-Kakula project in the Democratic Republic of Congo – considered the most significant copper discovery in decades.

Another Chinese firm, Zijin Mining Group — which acquired a stake in Ivanhoe Mines in 2015 through a wholly-owned subsidiary — has exercised its existing anti-dilution rights through a concurrent private placement. This means that Zijin owns now 9.7% of Ivanhoe Mines.

Ivanhoe Mines estimates the asset, discovered in 2007, holds the equivalent of at least 45 million tonnes of pure copper. The company aims to extract 300,000 tonnes per year once the mine is operating at full tilt.

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Diversification of economy discussed www.montsame.mn

An international conference ‘Expanding business cooperation through the Confederation of Asia-Pacific Chambers of Commerce and Industry’ is being hosted in Ulaanbaatar city.

Jemal Inaishvili, President of the CACCI, authorities of the confederation and representatives of Silk Road Chamber of International Commerce, who are attending the conference, paid a courtesy call on the President Kh.Battulga to discuss about regional economic matters.

Moreover, the sides exchanged views on some sectors that can potentially diversify Mongolian economy. In particular, President Kh.Battulga emphasized the excellent opportunities for starting and expanding business in agriculture, tourism and high technological sectors, citing some benefits to business, such as the transit transport tariff discount from Russia and customs duty support from other countries.

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