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.

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.

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

“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.

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.

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

During the visit, D.Tsogtbaatar will meet Kim Yong-nam, President of the Presidium of the Supreme People's Assembly of North Korea and Ri Su-yong, director of the Foreign Affairs Committee as well as hold talks with Foreign Minister Ri Yong-ho.

Mongolia and North Korea are celebrating the 70th anniversary of the establishment of diplomatic relations this year. The last time, a Mongolian foreign minister visited Pyongyang was in 2010; the North Korean foreign minister last visited Ulaanbaatar in 2015.

On the first day of his visit, Mr Bat-Erdene Jadamba met with Mr Li Xiaopeng to discuss Mongolia- Russia-China railroad corridor and bilateral cooperation on auto road and air transport.

Chinese Minister Li Xiaopeng remarked “The two countries have been developing cooperation in all sectors, especially focusing on transport sector since the joint declaration of developing Comprehensive Strategic Partnership in 2014.” He then expressed that the Agreement on International Road Transport, which was established between the Governments of Mongolia and China in 2011, is not complying with the current situations; thus, a joint working group needs to be established in order to study the necessary amendments to the agreement.

Minister of Road and Transport Development of Mongolia Bat- Erdene Jadamba expressed Mongolia’s interest in studying China’s practices in the road and transport spheres. Accordingly, Mr Bat-Erdene Jadamba asked China’s support in the following works:
Establishment of highway in Tianjin- Ulaan Uud route auto road; Expansion of railway network and workforces between the two countries;
Expansion of transit transportation in the western, eastern and northern route railways;
He then highlighted the current situations at Nariin Sukhait-Shivee Khuren and Tavan Tolgoi-Gashuunsukhait roads, and emphasized, “Tavan Tolgoi-Gashuunsukhait route auto road has a significant impact on Mongolia’s economy. Therefore, it is important to promptly settle the issue at the border checkpoint.”

Accordingly, Mr Bat-Erdene Jadamba asked to increase access and establish railroad between Zunbayan and Khangi Mandal. He added, “If these areas are connected by railroads, the transportation length of iron ore from Mongolia to a metallurgical plant in Bugat city of Inner Mongolia Autonomous Region of China will reduce by 400 km and will reduce load at Zamiin Uud-Ereen border checkpoint.”

As for air transport, Mr Bat- Erdene Jadamba requested China to increase flight frequency and delays in the Ulaanbaatar-Beijing route, expand flight routes of Hunnu Air LLC and establish Ulaanbaatar- Ulaan-Uud-Manchuria flight route. He emphasized that the route will develop cooperation and tourism between the three countries. Chinese minister informed that a joint working group’s research is important for the above-mentioned issues and expressed his willingness in cooperating with Mongolia after studying the situation.

Tugsbilig.B