1 MONGOLIA'S TOURISM REVENUE INCREASES BY 20 PERCENT WWW.NEWS.MN PUBLISHED:2018/07/16      2 WATER LEVELS OF MAJOR MONGOLIAN RIVERS EXCEED ALARM LINE WWW.XINHUANET.COM PUBLISHED:2018/07/16      3 CHINA SETS RECORD DAILY STEEL OUTPUT FOR THIRD MONTH IN A ROW WWW.REUTERS.COM PUBLISHED:2018/07/16      4 RUSSIAN RETAILERS, HOTELS EMERGE AS WORLD CUP WINNERS WWW.THEMOSCOWTIMES.COM PUBLISHED:2018/07/16      5 BIOGRAPHY OF TAVAN TOLGOI RESIDUAL COAL DEPOSITS WWW.ZGM.MN PUBLISHED:2018/07/16      6 NAGOYA BASHO LOSES LAST OF THREE YOKOZUNAS WWW.MONTSAME.MN PUBLISHED:2018/07/16      7 CHINA'S GDP HITS 6.7% IN Q2 OF 2018 WWW.CHINADAILY.COM.CN PUBLISHED:2018/07/16      8 US-CHINA TRADE WAR DIMS BRIGHT FUTURE FOR SEMICONDUCTORS WWW.ASIA.NIKKEI.COM PUBLISHED:2018/07/16      9 RIGHTS GROUPS URGE BETTER TREATMENT FOR MONGOLIA CHILD JOCKEYS WWW.REUTERS.COM PUBLISHED:2018/07/16      10 TPP CHIEF NEGOTIATORS TO MEET IN JAPAN WWW.NHK.OR.JP PUBLISHED:2018/07/16      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     1,5-2 САЯ ТӨГРӨГИЙН ЦАЛИНТАЙ ЖОЛООЧИЙН АЖЛЫН БАЙРНЫ БҮРТГЭЛ ЭХЭЛЛЭЭ WWW.ZINDAA.MN НИЙТЭЛСЭН:2018/07/16     ОЛОН МЯНГАН НИСЭХ ОНГОЦ ШИНЭЭР ҮЙЛДВЭРЛЭХ ШААРДЛАГАТАЙ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/16     КРИПТОВАЛЮТЫН ТАЛААРХ ХОРООНЫ БАЙР СУУРЬ ХЭВЭЭРЭЭ WWW.GOGO.MN НИЙТЭЛСЭН:2018/07/16     ОРОСЫН ЭДИЙН ЗАСГИЙН ӨСӨЛТӨД ДАШТ-2018 НӨЛӨӨЛӨХ НЬ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/16     ЗҮҮН ӨМНӨД АЗИ ХАНШАА ХАМГААЛЖ ЭХЛЭВ WWW.ZGM.MN НИЙТЭЛСЭН:2018/07/16     АЯЛАЛ ЖУУЛЧЛАЛЫН САЛБАРААС 400 ГАРУЙ САЯ ДОЛЛАР ОЛЖЭЭ WWW.DNN.MN НИЙТЭЛСЭН:2018/07/16     МОНГОЛЫН ЭДИЙН ЗАСГИЙН БҮТЭЦ ЭМЗЭГ ХЭВЭЭР БАЙНА WWW.GOGO.MN НИЙТЭЛСЭН:2018/07/10     МОНГОЛ, ВЬЕТНАМЫН ГАДААД ХАРИЛЦААНЫ ЯАМ ХООРОНДЫН ЗӨВЛӨЛДӨХ УУЛЗАЛТ БОЛОВ WWW.NEWS.MN НИЙТЭЛСЭН:2018/07/10    

Events

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

NEWS

64x64

Bank of Mongolia to introduce G20 High Level Principles on Financial Consumer Protection www.montsame.mn

Ulaanbaatar /MONTSAME/ The Bank of Mongolia is introducing 11 principles of G20 High Level Principles on Financial Consumer Protection developed by Organization for Economic Co-operation and Development (OECD).

The BoM formulated principles in the following directions, considering the issue on financial consumer protection will be coordinated under the rule of regulatory organization and ensured within its supervision.

As projected in the principles, a financial services provider is responsible for strengthening good governance in organization, treating all costumers equally, honestly and fairly.

All financial parties undertake to promote financial education and carry out activities on imparting consumer-oriented knowledge and skills.

In addition, consumer’s savings, correspondent account, and all other assets are to be prevented and protected from fraud and misuse.

B.Batchimeg

...


64x64

The UK Export Finance increases its assistance to Mongolia www.montsame.mn

Ulaanbaatar /MONTSAME/ The UK Export Finance raised the volume of its trade-related assistance for Mongolia up to GBP 200 million. Thereby, the agency has admitted the financing with national currency, allowing transactions in MNT. This will enable the purchase of British products and services in MNT.

“Appointing Trade Representative to Mongolia is of a great importance for supporting UK-Mongolia trade and investment cooperation. On January 23, 1963, Great Britain became the first western country to establish diplomatic relations with Mongolia. One year later, our first diplomat came to Mongolia. Since then, our embassy has been operating. We are delighted to commence the 55th anniversary of bilateral diplomatic ties with the good news. UK will continue supporting Mongolia's economy, sustainable development, human rights and democracy,” the Ambassador of the UK, Catherine Arnold said.

B.Misheel

...


64x64

Oyu Tolgoi hands over the Made in Mongolia Ecobus to Umnugovi aimag www.gogo.mn

Oyu Tolgoi’s Chairman of the Board of Directors Mr.Batsukh gave a speech opening the handover ceremony of Mongolian made eight ECOBUSes as part of the “Umnugovi public transportation improvement project” of “Gobi Oyu Development support fund” sponsored by Oyu Tolgoi LLC.

We are thankful to President of Mongolia Mr. Battulga Khaltmaa, Members of Parliament from Umnugovi region Mrs. N. Amarzaya and Mr. L. Enkhbold – for their participation in the handover ceremony.

Oyu Tolgoi’s vision statement is “Natural wealth to enduring value, knowledge, and skill” and Government of Mongolia’s policy of supporting “Made in Mongolia” aligns with our company’s strategy of supporting Mongolian made products through supporting national businesses.

A Cooperation Agreement was signed by Oyu Tolgoi LLC with Umnugovi aimag, and Khanbogd soum in April 2015 and Gobi Oyu Development support fund was founded in September 2015 as part of our efforts to achieve our vision.

Under the cooperation agreement, Oyu Tolgoi makes a contribution of US$5 million every year to Gobi Oyu Development Support Fund to support community programs and projects in Umnugovi aimag. Since its establishment, the fund has financed 26.7 billion tugrugs and 65 projects and programs towards sustainable development in important areas such as water, environment, pasture land management, cultural heritage, tourism, health, education, training and investment of the region.

This “Umnugovi public transportation improvement project” is one of the 65 projects that “Gobi Oyu Development support fund" has financed since 2015 and we are extremely happy to handover this Ecobuses made by Mongolian engineers to Umnugovi aimag.

Highlights from the projects and programs:

In 2015: Building two new kindergartens with capacity of 200 children in Dalanzadgad soum
In 2016: Building a new sports gym for School No.2 in Dalanzadgad soum & Building a new hospital in Bayan-Ovoo soum
In 2017: Building kindergarten & school complex in Khanbogd soum, Animal health center office building with 4 family apartment, necessary equipment and animal shelter, new heating plants in Khanbogd & Manlai soum and 8 ecobuses in Dalanzadgad soum.

...


64x64

Mongolbank’s gold purchase increases www.montsame.mn

Ulaanbaatar /MONTSAME/ The Bank of Mongolia purchased 1,128 kg gold in January this year, which is 46.5 percent higher than the same period of the last year.

In connection to the high rate at the London Metal Exchange, the Bank of Mongolia’s average purchase rate was MNT 103,531.75 per gram last month.

As such, the high price is leading to increase of gold deposit at the Bank.
Kh.Aminaa

...


64x64

China's benchmark power coal price ends decline www.chinadaily.com.cn

BEIJING -- China's benchmark power coal price ended declines during the past week due to rising consumption from coal-fired power plants.

The Bohai-Rim Steam-Coal Price Index, a gauge of coal prices in northern China's major ports published weekly, stayed flat with a week ago at 577 yuan ($91.75) per ton, according to Qinhuangdao Ocean Shipping Coal Trading Market Co Ltd.

Analysts said falling temperatures boosted electricity demand in coastal areas. Daily coal use of major power stations has hit a new high since the beginning of the year, while stockpiles continued to shrink.

The coal price had been falling as the government rolled out policies to ensure supply until surging seasonal demand stopped the losing streak.

Pressure from the coal shortage is likely to continue as the upcoming Spring Festival holiday will curb transport efficiency, analysts said.

China is in the middle of capacity cuts in the coal and steel sectors. Last year's annual targets to slash steel capacity by around 50 million tons and coal by at least 150 million tons were fulfilled in August and October, respectively.

...


64x64

Rio Tinto back in race for stake in world’s largest lithium miner www.mining.com

Global miner Rio Tinto (ASX, LON:RIO) is said to be once again chasing a $5bn stake in Chile’s Chemical and Mining Society (SQM), the world's largest lithium producer, following the resolution of a long-dragged dispute between the company and the country’s government over royalties in Salar de Atacama.

The deal between SQM and Chile’s development agency Corfo, reached last month, freed the lithium producer to apply for an increase in its output quota amid a demand boom and surging prices for the white metal, used in the batteries that power electric vehicles.

According to local paper Diario Financiero (in Spanish) Rio’s renewed interest in SQM is welcome by the Chilean government, which had expressed concerns about a potential and dangerous concentration in the market should major lithium producers, such as China’s Tianqi, acquire the 32% interest in SQM.

Nutrien (TSX:NTR), born from the recent merger between Potash Corp. and Agrium, has to sale its interest in SQM by April 2019, as part of the condition of the merger last year between PotashCorp and Agrium that created the company.

US chemical company Albemarle Corporation (NYSE:ALB), the only firm other than SQM currently allowed to mine the white metal in the South American nation, which is also said to want the stake in the Chilean producer, is a close partner of Tianqi.

Albemarle owns a 49% stake in Talison Lithium, with Tianqi — China’s largest lithium producer — owning the other 51%. That relationship is seen as threatening for Chile because Talison is not only a major player in the market, but it’s also developing several lithium projects in Chile and Australia.

If any of the two (Albermale or Tianqi) grabs the stake in SQM, it would mean the world’s three top producers will own between 70% and 80% of the total market, Eduardo Bitrán, executive vice-president of Corfo, warned in an interview last month.

“We don’t want that. It will create conflict of interest that will upset the interests of SQM, the interests of Corfo, the interests of Chile and that’s a problem,” Bitrán told FT.com.

Rio Tinto back in race for stake in world’s largest lithium miner
Rio's current incursion in the lithium market is mostly limited to its 100%-owned lithium and borates mineral project in Jadar, Serbia, which is still in the early stages of development.

While the company’s chief executive Jean-Sebastien Jacques has not ruled out acquisitions in recent comments to the market, he has also noted the company would only consider opportunities that make a "smart buy".

That’s why purchasing a stake in SQM would not be inconsistent with Rio's current strategy, Investec said in a note to clients in November, adding that such move would only provide a foothold in a sector where the company has some exposure, but with Jadar still many years away, "if it is developed at all".

SQM, which has a market value at just over $15 billion, is expected to quadruple lithium production by 2026.

...


64x64

Industrial park and new town plan www.news.mn

Mongolia has 66 million livestock; however, there is a lack of leather and meat processing factories. B.Batzorig, Minister of Food, Agriculture and Light Industries has said his ministry is planning to establish a Leather & Wool Industrial Park in Emeelt, outside Ulaanbaatar. The park will have tanneries with an annual processing capacity of 8 million hides; there will also be facilities for processing 22 thousand tonnes of cashmere. In order to provide the workforce for the processing plants a new town 30 thousand will be built.

...


64x64

Mongolia ranks 125th place in Economic Freedom Index www.akipress.com

Mongolia’s economic freedom score is 55.7, making its economy the 125th freest in the 2018 Economic Freedom Index by the Heritage Foundation.

Its overall score has increased by 0.9 point, with improvements in monetary freedom, fiscal health, and judicial effectiveness outweighing declines in the government integrity, labor freedom, and government spending indicators. Mongolia is ranked 27th among 43 countries in the Asia–Pacific region, and its overall score is below the regional and world averages.

After the collapse of the Soviet Union, landlocked Mongolia undertook market reforms and extensively privatized its formerly state-run economy. Foreign direct investments to extract its substantial mineral resources transformed the economy. The current government has tried to restore investor confidence but has failed to invigorate the economy in the face of the large drop-off in FDI, mounting external debt, and a sizeable budget deficit. Weak rule of law and lingering corruption are
additional drags on the economy.

Trade is significant for Mongolia’s economy; the combined value of exports and imports equals 98 percent of GDP. The average applied tariff rate is 4.6 percent. Nontariff barriers impede trade. Government openness to foreign investment is below average. The financial system has undergone modernization, and the banking sector has become largely stable.

...


64x64

Lenovo back on the growth track www.chinadaily.com.cn

Despite achieving a three-year revenue high in the last quarter, Lenovo Group Ltdthe world's second-largest personal computer maker-posted a loss due to a one-off charge of $400 million resulting from a United States tax reform, the company said on Thursday.

Yang Yuanqing, CEO and chairman of Lenovo, said the Beijing-based company has moved back onto the growth track, and the US corporate tax reform would not have negative impact on future earnings of its operations in the country.

Lenovo recorded a loss of $289 million in the last quarter of 2017, compared with an average forecast of a $124.5 million profit compiled by Bloomberg. The company said its pre-tax profit hit $150 million, up 48 percent year-on-year.

After struggling in both the personal computer and smartphone businesses in recent quarters, Lenovo said its hardest period is nearing an end, and it is reviving good growth momentum.

The company's revenue increased 6 percent year-on-year to reach $12.94 billion, marking the best performance in three years.

"Lenovo has re-entered the ascending track. As the PC market bounces back to growth, our core business will see an evident rise," Yang said.

In the three months ended in December, Lenovo's PC unit sales rose 8 percent, thanks to higher average selling prices driven by innovative products and a better product portfolio.

In the same time frame, global PC shipments rose for the first time in six years, albeit by less than 1 percent, according to market research company IDC. But HP Inc expanded its lead over Lenovo, its closest rival.

"We had been more conservative than HP in the past several quarters, especially in the North American market. But we are readjusting our strategies," Yang said.

When it comes to the mobile phone business, the company saw a narrower loss, with more efforts made to sharpen their focus on user experience.

Xiang Ligang, CEO of telecoms industry website Cctime, said Lenovo still faces mounting competition from rivals. It will still take time for the company to come up with competitive smartphone models that can resonate with consumers, he said.

...


64x64

Fitch expects to rate MAK, proposed bonds 'CCC+(EXP)' www.montsame.mn

Ulaanbaatar /MONTSAME/ Fitch Ratings expects to assign Mongolia-based coal mining company Mongolyn Alt (MAK) LLC a Long-Term Issuer Default Rating (IDR) of 'CCC+(EXP)'. Fitch has also assigned the company's proposed US dollar senior unsecured notes an expected rating of 'CCC+(EXP)' with a Recovery Rating of 'RR4'.

The ratings are based on the capital structure and liquidity of MAK assuming it completes the proposed bond deal and a debt restructuring. The company plans to repay some of its existing loan facilities that are in default, with proceeds from the proposed bond. The remaining loans will be restructured based on terms outlined in the signed consents and waivers from each respective lender, which have been reviewed by Fitch.

The final ratings are contingent upon successful issuance of the proposed bond and completion of the restructuring in line with the terms already received, and upon receipt of final documents conforming to information already received. Fitch thinks there is minimal risk that the terms of the restructuring will be amended by both MAK and the lenders after the bond issue.

The Long-Term IDR reflects Fitch's expectation that MAK's liquidity and debt maturity profiles will be adequate after the planned bond issue and restructuring of the remaining debt. The rating also incorporates Fitch's expectation that the company will be able to generate positive free cash flows over the medium term, barring a significant deterioration in coal prices. This is based on the assumption that MAK will be able to reduce production costs and capex during moderate coal price weakness. These expectations are counterbalanced by MAK's history of aggressive debt-funded investments, and limited access to external funding, which may heighten the company's liquidity risk if there is a sharp, sustained coal price or demand downturn and unfavourable capital market conditions.
Kh.Aminaa

...