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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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.

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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.

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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.

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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.

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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.

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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

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UK says signs over 9 billion pounds in deals during PM's China trip www.reuters.com

SHANGHAI (Reuters) - Britain signed deals worth more than 9 billion pounds ($12.83 billion) creating over 2,500 jobs across the United Kingdom during Prime Minister Theresa May’s visit to China this week, the British government said on Friday.

“The agreements signed this week, valued at more than 9 billion pounds, demonstrate a clear demand for British goods and services,” International Trade Secretary Liam Fox said in the statement.

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Alibaba to buy 33% of spinoff Ant Financial www.asia.nikkei.com

HONG KONG -- China's largest e-commerce company, Alibaba Group Holding, said Thursday that it has agreed to buy a 33% stake in Ant Financial Services Group, a mobile payments affiliate controlled by Alibaba founder Jack Ma Yun.

Under a deal announced the same day as better-than-expected quarterly earnings, Alibaba will buy new shares in the operator of the popular Alipay payment service in exchange for certain intellectual property rights owned by the e-commerce giant. There will be no cash impact on Alibaba following the closing, it said.

The move will align the duo's interests further in areas including user acquisitions from offline and online platforms and international expansion, Alibaba Executive Vice Chairman Joseph Tsai said in a conference call. Their strategic partnership dates back to 2014, when Alibaba and Ant Financial reached a profit-sharing agreement.

This will mark Alibaba's first investment in the affiliate, valued at more than $74 billion by Hong Kong-based brokerage CLSA in 2016.

Alipay was established in 2004 under Alibaba but spun off as a separate entity in 2011 to come under the control of Ma. The move, which followed regulations requiring third-party payment services to be wholly owned by Chinese companies or individuals, led to a dispute between Alibaba and foreign shareholders SoftBank Group of Japan and Yahoo of the U.S.

Alibaba's reunion with Ant Financial is also seen as preparation for the affiliate's anticipated public listing in addition to fueling its global acquisition drive. Tsai said Alibaba expects Ant Financial to continue its fairly aggressive plan to continue to gain more new users and take market share. The agreement comes not long after Ant Financial's plans to acquire U.S. money transfer company MoneyGram International fell through. That deal failed to win approval by the U.S. government over national security concerns last month.

Meanwhile, Alibaba's revenue jumped 56% on the year to 83.02 billion yuan ($13.18 billion) for the three months ended December, supported by Chinese consumers' enthusiasm for online shopping. This compared to the average estimate of a 49.95% rise to 79.84 billion yuan by analysts polled by Thomson Reuters. The company's bread-and-butter commerce segment continued to drive growth, especially with a push from China's biggest shopping event on Nov. 11.

For the event -- Singles Day -- Alibaba claimed to have broken its own record again by selling $25.3 billion of goods on that day alone, 40% more than last year. Alibaba also has been pushing its artificial intelligence technologies to attract customers through personal recommendations.

Its cloud computing business also reported revenue growth of 104% on the year to 3.59 billion yuan, pushed by increasing paying customers and more customers willing to pay for higher-value-added products, the company said. Karen Chan, equity analyst at Jefferies, said in a recent report: "We estimate Alibaba Cloud to reach breakeven with 3.2% operating margin by fiscal year 2019."

Alibaba also accelerated its push into offline retailing, aiming to pull customers into its empire. In November, the company said it would invest 22.4 billion Hong Kong dollars ($2.86 billion) in China's top hypermarket operator, Sun Art Retail Group. Looking ahead, the company pledged to double its Hema supermarket branches by the end of 2018. Hema customers will be able to receive fresh products in about 30 minutes after clicking from an additional 30 stores in Beijing and three new ones in Xian by the end of 2018.

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Germany Approves Gazprom Pipeline In Territorial Waters, Despite U.S. Opposition www.themoscowtimes.com

Russia’s energy monopoly Gazprom has welcomed Germany’s approval of a multibillion-dollar gas pipeline to Europe that is viewed with suspicion by Moscow’s geopolitical rivals.

The Nord Stream 2 project announced Wednesday that it received a construction and operation permit from a northern German regional mining authority for a 55-km section of the gas 1,200-km pipeline off the Baltic Sea coast.

“This key decision opens the possibility of starting construction of the new Nord Stream-2 offshore gas pipeline’s most important section in German territorial waters,” Gazprom CEO Alexei Miller was cited as saying by Interfax on Wednesday.

The Stralsund Mining Authority issued the permit less than a week after top diplomats from the United States and Poland expressed strong opposition to the Nord Stream 2 pipeline.

“We see it as undermining Europe’s overall energy security and stability and providing Russia yet another tool to politicize energy as a political tool,” U.S. State Secretary Rex Tillerson said at the time.

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New airway to be opened between Mongolia and China www.montsame.mn

The agreement on opening new airway between Mongolia and China was reached during the official visit of the Minister of Road and Transport Development to People’s Republic of China.

In the second half of the year, the new airway will be open. To develop the tourism sectors of both countries, the Chinese asked Mongolia to increase the frequency of the Ulaanbaatar-Beijing-Ulaanbaatar flights, and to take action to support a proposal on codeshare between the Mongolian state enterprise MIAT and the Chinese state-owned "Air China". They also requested the Ulaanbaatar-Ulan Ude flights operated by “Hunnu Air” LLC to be extended to Ulaanbaatar-Ulan-Ude-Manzhouli-Ulan-Ude.

MIAT are planning flights to Chengdu and Guangzhou, China. The Minister of Road and Transport Development J.Bat-Erdene emphasized that this is a big step forward expanding tourism, investment and business sectors.

During the Ministers' meeting, a Memorandum of Understanding was signed between the Mongolian Maritime Administration and the Chinese Ocean Administration to cooperate in sharing experiences and training staff and other spheres. As a result, our two countries will cooperate in all areas of transportation sector.

The issues agreed during the visit will be concluded during an expecting visit of Prime Minister U.Khurelsukh to People’s Republic of China.

B.Misheel

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