According to MP B.Enkh-Amgalan, Mongolia ineffectively spent a total of MNT 216 billion for fighting air-pollution in the capital, Ulaanbaatar, which has become one of most polluted cities of the world. Recently, the cabinet backed a decision to ban raw coal consumption in the city. As of next year, the Mongolian Finance Ministry plans to invest MNT 200 billion on projects fighting air-pollution.

Selected contractors will work out of Mongolia. The company will pay for the flight to Silicon Valley (along with reasonable expenses) to meet and train around the company’s environment for a couple of months. The initial contract term is for 6 months with a rate of MNT 4 million per month. Scan the QR code for further details.

In addition, the amount of financing was also decreased by 46 percent. In May, the Bank of Mongolia (BoM) transferred MNT 15.7 billion and the Ministry of Finance transferred MNT 29.4 billion to commercial banks to finance the mortgage loan program. This grants an opportunity for 657 citizens to obtain the loan.

“The mortgage loan program financing has been decreased due to the BoM’s inability to finance projects and programs as required by the International Monetary Fund’s EFF program,” an analyst of the Bloomberg TV Mongolia emphasized. It was reported that the BoM will quit the mortgage loan program and transfer it to the Government of Mongolia within 2018. “The fall in mortgage loan financing impacts household savings,” the Bloomberg TV Mongolia noted.

The BoM and the Government of Mongolia are granting mortgage loan financing twice per month starting from this year. As of the first quarter of 2018, a total of MNT 48.1 billion were distributed to commercial banks, granting loans to 706 citizens. As of today, a total 93 thousand citizens obtained the laon and the loan balance reached MNT 4.2 trillion.

Murun.B

Furthermore, 90 percent of its sales revenue is accumulated from foreign markets and 10 percent from domestic market. However, 70 percent of its customers are domestic companies and only 30 percent are foreign firms. The company is planning to enter the Malaysian market to increase their sales in 2018 and plans to offer iRestaurant system, its major product, in the US, UK and Australian markets through the Apple’s app store within this year.

Moreover, Ametros Solutions LLC, a Mongolian producer of home automatization system concluded agreements to export its products to Kazakhstan and Myanmar. The first product of the company was a wireless charger. The company now manufactures security hardware.

According to Gartner, Inc., an American research and advisory firm providing information technology-related insight for tech and other business leaders, there is prospect that IT product and service expenses will reach USD 3.7 trillion throughout the country in 2018.

Mongolia makes up over 40 percent of cashmere resource at global market and the field is producing goods worth MNT 950 billion and earning MNT 740 billion from export today. As of 2017, Mongolia prepared 9400 tons of wool and cashmere and exported its 80 percent as washed and 10 percent as combed.

As a result of approval of the ‘Cashmere’ program, domestic industries are intending to buy some 40 percent of cashmere starting from this year and to produce final goods. A total of 298 factories are operating and 5200 people are employed in cashmere industry.

“It is crucial that herders learn to sort wool and cashmere. The Ministry is cooperating with the Agricultural Commodity Exchange to bring domestic trade to higher level through connecting factories and herdsmen”, said S.Regzedmaa, Senior Specialist of Policy Implementation Coordination Department of Light Industry of the Ministry.

Mongolia exports most of its cashmere to Great Britain, France, Italy, Japan and Korea and growth of final product's export is 50 percent now.

Attendees of the consultation stressed that circulating asset and credits are pressing issues for cashmere companies.

"Currently, we are studying what kind of insurance service is needed for improving export capacity In 2018, we made market researches on Chinese and Japanese markets. We should attach great attention to processing cashmere," said D.Nyamsuren, an analyst for WB Financial Support Team.

The national consultation will run until May 19.

B.Batchimeg

The bank has purchased 3.2 tons or 3290.6 kg of gold in the first four months of 2018, which was increased by 257.6 kg compared to the same period of the previous year.

The BoM is purchasing gold at MNT 103,531.75 per gram, the same price as London Metal Exchange. The bank’s average gold purchase rate is MNT 102,000.96 per gramm.
E.Altanzul

The group began the assault by ramming a car into the police headquarters in the town of Pekanbaru in Riau province.

A police officer was killed and one of the assailants arrested. The Islamic State (IS) group has claimed the attack via its news outlet.

It comes after a series of suicide attacks carried out by families that have shocked the country.

Police blame a local IS-inspired group, Jemaah Ansharut Daulah (JAD), for the attacks in the city of Surabaya.

Indonesia is the world's most populous Muslim-majority country.

Following the 2002 Bali bombings, it had been widely praised for its sustained anti-terrorism crackdown.

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It managed a combination of arrests and killings, alongside a de-radicalisation program that focused on changing minds and providing alternative incomes for released terrorists.

But, the country now faces a new threat, in part from from IS fighters who have come home after combat in Syria.

Soros Fund Management invested $35 million in the convertible bonds of Tesla, which are due in March 2019, Reuters reports quoting the US Securities and Exchange Commission. This is not the first collusion between Soros and Tesla CEO Elon Musk. In 2016, Soros helped Musk raise $305 million on SolarCity Corp, a debt-laden solar panel firm backed by Musk and a part of Tesla now.

Tesla has faced many troubles in the last few weeks. Investors are concerned about the company’s ability to produce its cheaper Model 3 sedan. A crash which involved Tesla’s autopilot added concerns about the firm. On Wednesday, Tesla was trading at $283.87 per share, continuing to lose the temporary rebound it saw last week.

Earlier this week, Musk said the firm undergoing a “thorough reorganization.” In the last year alone, Tesla lost over $2 billion. The company was losing $6,500 every minute and needs another $2 billion to get through the current year, according Bloomberg estimates. The problems continued this year after the company lost almost $710 million in the first quarter of 2018.

The annual forum is co-organized by Ministry of Energy, the Energy Regulation Commission of Mongolia, the Mongolian Renewable Industries Association and the Mongolian Wind Energy Association.

This year's forum is expected to cover topics such as establishing independent grid in remote area, current renewable energy situation on grid, opportunities of reducing air pollution using renewable energy in urban areas.

Currently, the number of attendees of this year's forum has reached 600.

Mongolia has enormous potential for the development of renewable energy.

The East Asian country with a population of just over three million enjoys more than 250 days of sunshine a year.

The country's renewable capacity nearly doubled last year, reaching 155 MW, according to data from the Ministry of Energy.

The landlocked country installed its first large solar power plant, with a capacity of 10 MW, in Darkhan-Uul province, in the north of the county, in January 2017. Its second wind farm, the 50 MW Tsetsii Wind Farm, also opened in October of that year.

Mongolia seeks to provide sufficient heat and electricity to its population, especially in rural areas, and renewable energy projects are seen as a possible solution.

According to Mongolia's Ministry of Energy, the country has a potential wind capacity of 1,100 GW.

At the press conference, the parties expressed their interest in expanding active cooperation in broad spheres including the Shanghai Cooperation Organization (SCO), United Nations (UN) and Organization for Security and Co-operation in Europe (OSCE).

“We exchanged views on some issues regional and international communities are facing. Moreover, we have agreed to continue our cooperation in major fields like SCO, UN and OSCE. By improving relationship with the Eurasian Economic Union (EAEU) Mongolia will be able to increase trade turnover, attract investment and expand regional and border cooperation. The second meeting of the working group to expand cooperation between the Government of Mongolia and EAEU was held in 2017 in Ulaanbaatar. I am confident that the work will continue intensively in the future” said Foreign Minister of the Russian Federation S.V.Lavrov, noting that there will be many opportunities for Mongolia with the Great Eurasian partnership. He also emphasized that Russia will support Mongolia in all aspects with this great start.

Foreign Minister of Mongolia D.Tsogtbaatar said “At the initiative of Mongolia, Mongolia-Russia cooperation has expanded to trilateral cooperation including the People’s Republic of China. Mongolia is paying close attention to the Mongolia-Russia-China Economic Corridor Program. A meeting of three leaders are planned in June, during the SCO summit in Qingdao, China. Mongolia has began studies and is creating a favorable legal environment to conclude free trade agreement with the EAEU.”

Minister S.V.Lavrov noted that the document on expansion of trilateral cooperation based on agreements between the leaders of Mongolia, Russia and China will be approved soon.

“The Mongolia-Russia-China Economic Corridor Program includes quite feasible projects in infrastructure, railway transportation and logistics service. Documents related to the program are ready and will be approved soon. We are making a great effort to satisfy Mongolia's interests, including making transit transportation between Russia, China and Europe. Mongolia’s transit transportation increased by 2.7 times last year, if I’m not mistaken. This growth demonstrates the potential for further transportation increase” said Minister S.V.Lavrov and noted that the meeting with the Foreign Minister of Mongolia was effective.

B.Misheel