The steel price index came in at 121.8 at the end of December, up 22.4 percent from the beginning of 2017, the MIIT said.

It attributed the increase to cutting overcapacity, a ban on low-quality steel, production restrictions during winter, and recovering market demand.

China slashed its crude steel production capacity by more than 50 million tons in 2017, exceeding its annual target, as part of efforts to improve the competitiveness of the bloated sector.

The country also phased out the production of 140 million tons of low-quality steel made from scrap metal last year.

The industry's profitability improved, with major steel producers' profits surging 613.6 percent, the MIIT cited data from the China Iron and Steel Association as saying.

Despite the improvement, the MIIT warned of more difficulties in further capacity reduction as the increased profits may lure some producers to launch new projects.

China plans to eliminate 100 million to 150 million tons of crude steel capacity in the five years from 2016.

“Growth will not happen until the current panic recedes, and this may take weeks and months,” Mikhail Mashchenko, an analyst at social network for investors eToro, told RT.

"Those who want to invest in the cryptocurrencies may try to start opening positions on it. At least, it is much more reasonable than waiting for the return of the exchange rate to its maximum highs.”

The last week’s sell-off was partially triggered by a panic on the US stock markets, since venture capital like bitcoin and other cryptocurrencies is the first thing investors jettison when turbulence occurs in traditional markets, he added.

Nikolay Kotov, analyst at Analitika Online, told RT that current prices represent a good opportunity to buy bitcoin, since this year’s sell-off is not the first tough period for digital assets.

“The history of stock markets repeats itself. It is unprofessional to draw conclusions because of the bearish candle in BTC/USD pair. Personally, I buy bitcoin and ethereum and take long-term positions with targets 33 percent higher than previous local highs,” Kotov said.

Bitcoin and other cryptocurrencies were recovering strongly on Monday. The leading cryptocurrency surged almost 10 percent to $8,700, ethereum jumped 8.5 percent to $870, and ripple surged 13 percent to $1.10. All of the top 100 cryptocurrencies on Coinmarketcap were trading in positive territory.

According to the report, the company earned sales revenue of MNT 428 billion in 2017, 2.4 times high compared to 2016.

MNT 48 billion was paid to income tax and the company had MNT 141 billion net profit.

In 2016 the company distributed 85 percent or MNT 45.9 billion of its net profit in the form of dividents which means MNT 872 in per share.

In addition the company's market cap reached MNT 563 billion and set the record in the Mongolian Stock Exchange with MNT 1.4 million per stock and dividend of MNT 130 thousand per share in 2011.

B.Batchimeg

More than 90 state-owned and private companies of China confirmed their participation in the forum. In detail, Chinese companies expressed their interest to invest in agriculture, animal husbandry, farming, infrastructure construction, energy, power plant, nature conservation and rehabilitation, a comprehensive service of environment, renewable energy, tourism, metallurgy, information technology, mining, coal, international freight forwarding, production of chemical and construction materials, construction of industrial park, production of equipment as well as other sectors of Mongolia.

Until March 2, a registration is available for businesspersons who want to take part in the forum and look for investment-a partner of cooperation in abovementioned sectors.

M.Unurzul

LendMN gave a presentation about securities on February 9, at the Mongolian Stock Exchange. LendMN will offer 25 percent of the company’s shares through an IPO.

The company expects to raise five billion MNT from individual buyers and other investors through the MSE trade, and will spend the money on expanding its operations.

Applications for buying the securities will open on February 21, and close on March 7. LendMN introduced its financial technology in 2016, and they provide loans without collateral through a mobile application.

The balance of foreign trade saw a positive outcome, with exports exceeding imports by 62.7 million USD.

Mineral products made up 83 percent of the 423.8 million USD in exports, with 6.4 percent including precious stones and metals. China received 88.5 percent of Mongolia's export products, while Russia received 1.2 percent.

Import volume increased by 30 percent over 2017, reaching 360 million USD. With the Lunar New Year approaching, imports of food and plastic items tend to increase.

China and South Korea have already banned bitcoin mining due to problems with a lack of control over fraud and money laundering, and in China's case, concern over the amount of power that the activity sucks from the electricity grid.

Now one of the most popular destinations for bitcoin mining could be facing the same problem as large cryptocurrency miners pile in to take advantage of the island's abundant geothermal and hydroelectric power plants.

According to Iceland's National Energy Authority, bitcoin mining is expected to double Iceland's energy consumption to around 100 megawatts this year, which is more than households on the island nation of 340,000 use, Metro News reported on Sunday.

In 2014 Oilprice.com found Iceland to be "the world's top energy glutton," using more kilograms of oil equivalent per capita than any other nation on earth. With most of Iceland’s energy coming from hydroelectric and geothermal power, Icelanders are some of the planet’s least energy-conscious. Click here for a fascinating video of why the Nordic nation uses so much energy.

This contribution is an example of Oyu Tolgoi’s effort to enhance human security and environment.

Air pollution affects the learning ability and development of respiratory systems of children aged 0-7, with signs of immune deficiency and respiratory infections. With ever increasing flu caused from in-door air pollution these days, 116th school’s dormitory as well as maternity’s critical areas such as surgery rooms and section for prematurely born babies are in particular need of air purifiers. Therefore, Oyu Tolgoi is very proud to support the maternity and school to create healthy environment for their development.

IQ Air purifier filters particles 100 times smaller than ordinary air cleaners and micron particles including bacteria and viruses. Over 100 types of gasous contaminants can be destroyed by this technology and there are no risky side effects because it is ozone-free - making it the most suitable for hospitals and schools.

We would like to express our gratitude to AERIS LLC, official distributor of IQ Air in Mongolia for supplying their products with discount for our donation!

It is Enkhbayar's second term as the MPRP chairman after he received full support from the party's 1,044 members who attended the two-day party congress on Friday and Saturday.

The MPRP, founded in 2010 by Enkhbayar, is the third-largest political party in Mongolia.

Enkhbayar served as prime minister of Mongolia from 2000 to 2004, as speaker of the parliament from 2004 to 2005, and as president of Mongolia from 2005 to 2009.