Hanjin Group Chairman Cho Yang-ho appeared at a prosecutors' office in Seoul on Thursday morning.

He told reporters outside the building that he will face the investigation in good faith.

South Korean media report Cho and his sister allegedly evaded about 50 billion won, or more than 44 million dollars, in taxes on their inheritance of their father's overseas assets.

The Cho family has made scandalous headlines in recent years.
Cho's eldest daughter was criticized in 2014 for ordering her flight back to the gate before takeoff because she was unhappy with the way her nuts were served. The episode is known the "nut rage" incident.

His younger daughter was questioned by police on suspicion of assault after she reportedly lost her temper during a meeting and threw a drink in the participants' faces.

Both daughters later stepped down from their executive posts at Korean Air.

Cho's wife was also questioned by police last month on suspicion of assault for reportedly shoving workers at a construction site

The bill on free land in Vologda will be introduced in the regional parliament in September and is likely to be introduced starting January. According to the program launched in Russia’s Far East, free land can be used for any lawful purpose, but the new owners cannot rent, sell, or give the land away for five years.

Foreigners are also eligible to use the land, but the registration of full property rights is only possible after the recipient becomes a naturalized citizen. The program started in June 2016 for the local populations of the Far East, and from February 2017 it became available for all Russians.

Vologda will give out 468,000 hectares of vacant agricultural land in 14 remote areas of the region. These lands will be used for farming and raising livestock.

Russia has about 43 million hectares of farmland that is not used for its intended purpose. President Vladimir Putin ordered the land be given out to Russian citizens.

The area of Vologda region is split between the basins of the White Sea, the Baltic Sea, and the Caspian Sea. Lake Onega, one of the biggest freshwater lakes in Europe, is located in the region.

The board is in the final stages of a robust CEO search and expects to make an announcement in the near term. As previously disclosed, current CEO Jeff Tygesen is retiring from the Company.

Prior to joining Turquoise Hill in October 2017, Mr. Colton worked for Rio Tinto in various product groups, including Energy & Minerals and Iron Ore. Prior to joining Rio Tinto, he was a Senior Accountant with Ernst & Young.

The Mongolian Ministry of Mining and Heavy Industry said that out of its total production, 3.127 million barrels or 424,631 tons of crude oil were exported to China during the same period.

Currently, Mongolia exports crude oil to China and imports petroleum products from Russia.

The country is planning to extract 8.1 million barrels or 1.1 million tons of crude oil this year, which would contribute 223.4 billion Mongolian Tugrik (93.31 million U.S. dollars) to the state budget.

According to the ministry, Mongolia has implemented 38.6 percent of its export goals for the year.

The man hid the 80-million-year-old fossil of a protoceratops in his cottage and planned to sell it.

The police seized the fossil and handed it over to the Institute of Paleontology and Geology of the Mongolian Academy of Sciences.

The details of the fossil have not been made public. The case is under investigation.

The Protoceratops was a genus of the sheep-sized herbivorous ceratopsian dinosaur during the Upper Cretaceous Period.

Mongolia is known for its large number of dinosaur-related findings.

Under Mongolian law, significant fossil discoveries cannot be exported or sold to non-Mongolians, even if they are privately owned.

Mongolia’s performance under the program remains strong. The combination of strong policy implementation and a supportive external environment has helped the authorities over-perform on all end-March 2018 quantitative targets under the program. Progress has also been made on structural reforms, albeit with some delays.

Mongolia’s three-year extended arrangement was approved on May 24, 2017, in an amount equivalent to SDR 314.5054 million, or about US$ 434.3 million1 at the time of approval of the arrangement (see Press Release No. 17/193 ). The government’s Economic Recovery Program, supported by the IMF, aims to stabilize the economy, reduce the fiscal deficit and debt, rebuild foreign exchange reserves, introduce measures to mitigate the boom-bust cycle and promote sustainable and inclusive growth.

Following the Executive Board’s discussion of the review, Mr. Tao Zhang, Acting Chair and Deputy Managing Director, said:

“Mongolia is making good progress under the Fund-supported program. Helped by a favorable external environment and strong program implementation, growth has picked up and there has been a considerable improvement in fiscal substantiality, debt dynamics, and external buffers.

“All end-March 2018 quantitative targets under the program were met. Fiscal accounts showed robust performance posting a primary surplus, mainly reflecting a sharp increase in revenue. Meanwhile, international reserves have more than doubled since the start of the program.

“Reforms to strengthen the financial sector are ongoing with a focus on the follow-up to the asset quality review completed in January. Banks are in the process of raising capital to address any identified shortfalls. In addition, the authorities passed a law outlining when and how public funds can be used to preserve banking sector stability.

“Notwithstanding this progress, Mongolia remains vulnerable to external and internal shocks. It is therefore critical to take advantage of the current favorable economic environment to continue building fiscal and foreign exchange buffers, strengthen the banking sector, and improve the investment climate. A steadfast implementation of the authorities’ reform program is key to build resilience against shocks and ensure continued strong and inclusive growth.”

IMF Communications Department

In spite of the fact that mining sector’s part in Mongolian economy is heavy, its competitiveness in the export market is mediocre due to price and non-price factors. One of the main reasons for this is landlocked geographical location of Mongolia and weak carrying capacity of its infrastructure, especially the rail network.

Therefore, draft parliamentary resolution was worked out to include projects for construction of new railroads linking the Zuunbayan station to Khangi border checkpoint and Erdenet station to Ovoot coal deposit in Tsetserleg soum, Khuvsgul aimag and further to Artssuuri border checkpoint with the aim of promoting export of iron ore, coal and other minerals and expanding rail network infrastructure in the state policy on railway transportation.

By building about 281 km railroad continuing Sainshand-Zuunbayan railway line in Dornogobi to the Khangi-Mandal border checkpoint and connecting it to the railway, currently under construction in the Chinese border, transportation distance of Sainshand-Zuunbayan-Khangi-Mandal-Bugat route will be cut to 590 km, which is shorter by 318 km. The main freights transferred by Zuunbayan-Khangi route is iron ore, but some other raw materials and products can be transported.

Within the framework of the Erdenet-Ovoot-Artssuuri rail route project, Erdenet station of the UB Railways company will be branched to reach the Ovoot deposit in Tsetserleg soum, Khuvsgul aimag and then connected to the Artssuuri border checkpoint in Tes soum, Zavkhan aimag.

M.Anudari

The Anti-Drug Control Division released the data on the occasion of the International Day against Drug Abuse and Illicit Trafficking, which falls on June 26 each year.

A lack of awareness of drug laws and attempting to make easy money are part of the reasons for the significant growth of drug-related crimes, the statement said.

A total of 201 people are being investigated in these cases, eight of whom are under the age of 18.

As of June 20, 45 Mongolian citizens have been detained abroad for drug trafficking, according to the statement.

According to Synergy, Alibaba's cloud computing service ranks second in the Asia-Pacific region, behind Amazon Web Services, whose market share is around 40 percent. Tencent, another Chinese tech giant, ranks fifth in this region.

Alibaba Cloud's international operations are registered and headquartered in Singapore, and the company has international teams stationed in Dubai, Frankfurt, Hong Kong, London, New York, Paris, San Mateo, Seoul, Singapore, Sydney and Tokyo. The company is also expanding its service into countries and regions involved the Belt and Road Initiative.

From startups to industry tycoons, Alibaba Cloud provides services to millions of customers at home and abroad. The G20 Hangzhou Summit, Sinopec, Petro China, AirAsia, KPMG and Nestle are all Alibaba's customers, according to the company's website.

The company will also help make the Beijing 2022 Winter Olympics greener.

Alibaba Cloud will build out an integrated cloud technology and innovation platform for the Olympics. Along with other cloud global infrastructure products from Alibaba, the cloud data center for Beijing 2022 will provide a strong cloud computing capability to empower Alibaba's cloud services to help realize the International Olympic Committee's vision for a future Olympic Games — one that runs completely on the cloud, the company said.

Company data shows that Alibaba Cloud reported revenue of 4.39 billion yuan ($664.96 million) in the first quarter of this year, up 103 percent. Total revenue for the 2017 fiscal year reached 13.39 billion yuan, an increase of 101 percent.