Rosneft reported a sevenfold increase in its net profit for the first quarter of this year on the back of higher oil prices, event though production was lower. The company accounts for about 40 percent of Russia’s total oil production, which has made it key for the production cut Russia agreed with OPEC.

Now that production is once again on the rise following loud complaints from some of the biggest importers of crude, Rosneft stands to benefit more than smaller companies.

The company has made it clear that despite the production cuts, it was eager to boost production both domestically and internationally. It has also launched an ambitious overhaul that should see Rosneft buy back $2 billion in stock, slash capex by as much as 20 percent and raise its working capital by US$3.15 billion (200 billion rubles) by the end of this year.

Meanwhile, the company is growing in places like Kurdistan and Nigeria. In May, the company announced the discovery of a potentially huge oil field in southwestern Iraq, and a month later, media reported that Rosneft would be partnering with a Nigerian company to develop 21 oil blocks across Africa.

Rosneft doesn’t have a significant presence in Africa except for a 30-percent stake in the giant Zohr gas field offshore Egypt in the Mediterranean, as well as some prospects in Mozambique.

Gaining access to more projects in Africa could be an important development for Rosneft to expand its global footprint, especially since US sanctions on Russia are not seen to be an issue in this region.

972-apartment building for rental purpose is under construction in Buyant Ukhaa-2 apartment complex. A portion of the USD 500 million loan from South Korea will be spent on the program.

Furthermore, the corresponding Ministries are studying possibilities and experiences from Asian countries and exchanging views with them on attracting investment from international market by issuing certified mortgage bonds. It is estimated to be possible to issue bonds secured by asset-backed loan of MNT 4.2 trillion. 
M.Anudari

By using the drone, it will become easy to monitor, document illegal activities and to estimate size of broken land using the special software.

The drone will be used not only in detecting illegal mining also in examining whether licensed entities are excessing amount of their field as well as combating with poaching and illegal logging.

The Swiss Agency for Development and Cooperation granted these drones to the GASI for inspection of artisanal and illegal mining activities.

B.Batchimeg

The tenth forum will be a major event for intensifying relations and development of neighboring areas of Mongolia, Russia and China and improving trilateral relations and cooperation as agreed by the heads of state of the three countries in the new circumstances of the implementation of China’s initiative One Belt, One Road.

The sides have regarded Erenhot as an active area for further deepening economic and trade exchanges within the One Belt, One Road initiative.
M.Anudari

Compared with the same period of previous year, total sown area decreased by 22.1 thousand hectares or 4.2 percent, thereof the wheat area decreased by 6.1 percent, industrial crops by 13.6 percent, medicinal herbs by 63.2 percent and potatoes area by 14.9 percent. However, fodder crops increased by 60.0 percent and vegetables by 3.9 percent respectively.

M.Unurzul

As of Monday, the central bank's average gold purchase price was 97.09 tugrik (4 U.S. cents) per gram, corresponding to a low rate on London Metal Exchange, according to experts from the Apex bank.

To encourage gold miners and individuals to sell gold to it and commercial banks, the central bank has carried out a number of measures, including a five-month campaign, "National Gold to the Fund of Treasures", started in May.

The bank's gold purchase is expected to grow as the three-month peak season for gold mining starts in August.

Gold miners submitted 20.01 tons to the central bank in 2017, worth over 800 million U.S. dollars.

The annual gold production has remained below 21 tons since 2005, when Mongolia reached its record high at 25 tons.

As the largest municipal engineering project currently in Mongolia, the bridge will greatly improve traffic congestion in the capital.

The 4,312.2-meter interchange designed with a two-way, four-lane road is the main route to Chinggis Khaan International Airport and the development zone from downtown Ulan Bator.

After the opening of the Yarmag overpass, the road from the city to the airport will be increased from two lanes to six lanes, and the transit time can be shortened by more than half.

The total investment of the project is 30.26 million U.S. dollars and it enjoyed Chinese government's preferential aid loan and export buyer's credit. It is constructed by the China Railway 20 Bureau Group under a design-procurement-construction general contract.

The project started construction in April 2017 and the construction of the ramp roads and repair of the old bridge will be completed by the end of 2018.

(Edited by Yang Qi, kateqiyang@xinhua.org)

The IAAC has stated that there are no legal grounds to accuse the agency of burying criminal cases, complaints, or information, and that the state's prosecutors and courts exercise the right to resolve criminal cases in line with the Constitution of Mongolia. The IAAC asked the SSSC to review the situation and hold the MPs who submitted the petition accountable for making false claims.

Security officers keep watch over a tent encampment housing immigrant children just north of the Mexican border in Tornillo, Texas, June 20, 2018. REUTERS/Mike
The absence of the 463 parents, which U.S. government lawyers said was “under review,” could impede government efforts to reunite separated families by Thursday, the deadline ordered by a federal judge. The filing did not say why the 463 parents had left the country, but government officials previously acknowledged that some parents had been deported without their children.

As of Monday, 879 parents had been reunited with their children, according to the filing.

About 2,500 children were separated from their parents after the Trump administration announced a “zero tolerance” policy in April aimed at discouraging illegal immigration. The policy was ended in June amid an international outcry about the government’s treatment of immigrant children.

U.S. District Judge Dana Sabraw in San Diego ordered last month that the government had to reunite the children with their parents in a case brought by the ACLU.

On Monday, the government also said 917 parents were either not eligible to be reunited or not yet known to be eligible to be reunited with their child. That number includes parents no longer in the country as well as those deemed unsuitable because of criminal convictions or for other reasons.

Immigration advocates have expressed alarm about parents deported without their children, saying it can create problems with the children’s immigration cases.

Clough CEO and Managing Director, Peter Bennett said “We are pleased with the award of these two additional scopes. Clough as part of the GCR Mongolia Joint Venture welcomes the opportunity to continue contributing to the progress of the underground development of the Oyu Tolgoi project”.

Situated in the southern Gobi Desert of Mongolia, approximately 550 kilometres south of the capital, Ulaanbaatar and 80 kilometres north of the Mongolia-China border, Oyu Tolgoi is jointly owned by the Government of Mongolia (34 per cent) and Turquoise Hill Resources (66 per cent,). Since 2010, Rio Tinto has also been the manager of Oyu Tolgoi.

Oyu Tolgoi is one of the most exciting developments in copper and gold mining for several decades. It contains reserves and resources that make it one of the world’s largest known copper and gold deposits. The project is expected to be a significant contributor to Mongolia’s development.