“The nuclear industry is an important part of our cooperation,” said Novak at a meeting of the intergovernmental commission, adding “Rosatom could take part in the creation of a nuclear cluster in Saudi Arabia, including the construction of 16 modern nuclear reactors.”

Moscow and Riyadh have inked an agreement on energy and climate and a memorandum of understanding and cooperation in the energy sector.

The Russian Direct Investment Fund (RDIF) and Saudi Arabia’s Public Investment Fund (PIF) are considering investing in more than 20 projects worth over $10 billion, Novak said. As of now more than $1 billion has been spent on nine joint projects.

Russian Railways is negotiating the construction of two railroads in Saudi Arabia. The company is actively developing cooperation with Middle Eastern countries, having already agreed to electrify Iranian rail track.

The two countries are also discussing supplies of Russia’s Kamaz trucks as Riyadh has expressed an interest. Kamaz is Russia’s largest truck maker and plans to increase exports by almost five percent to 6,500 vehicles. The company ranks 16th among the world's top heavy truck manufacturers.

According to Khamenei, economic relations have vast room for improvement. "In the transportation sector, we can expand cooperation, using the main axis of Chabahar port to the port of Saint Petersburg, as well as in other economic areas,” he said.

During the meeting, which lasted about an hour and a quarter, Putin replied that Russia considers Iran “a strategic partner and a great neighbor, and we will take advantage of every opportunity to expand and consolidate relationships in all dimensions.”

The Russian president said the US wants to interfere in all matters of the world and the region and often ignores interests of its allies to do so.

However, since 2014, despite the sanctions, “we devoted our funds to scientific and technological progress, and we had significant growth in the fields of biotechnology, IT, agriculture and space industries. Now, in spite of the initial concerns, we have realized that we can do whatever we decide to," said Putin.

Putin is visiting the Iranian capital to attend a trilateral summit with the leaders of Iran and Azerbaijan.

President Toshihiro Suzuki told reporters on Thursday that Japanese auto companies should work as a team to compete against European, US, and Chinese firms.

Toyota Motor, Mazda Motor, and automotive parts manufacturer Denso set up a new company in September to develop electric vehicles.

Suzuki said if a shift to hybrid and electric vehicles takes off in India, his company would quickly lose its strong position in the key overseas market.

He added the company is not going to miss the bus in the global move to go electric.

Suzuki has upgraded its financial projections for the current fiscal year ending in March.

It forecasts sales will come to 31.6 billion dollars and operating profit will reach 2.6 billion dollars. Both figures would be record highs.

It closed at $0.03 lastly. It is down 0.00% since November 1, 2016 and is . It has underperformed by 16.70% the S&P500.

Because of its size, the new carnivore is thought to have eaten juvenile or small dinosaurs, which were common during the Late Cretaceous period when the animal lived.
The fossil was found in a region of Mongolia's Gobi desert known as the Nemegt Formation, an area where many dinosaur bones have been found before. 
It is thought the beast was a pterosaur, a group of giant flying reptiles that lived alongside the dinosaurs.
The animals were the first vertebrates known to evolve the power of flight, and are thought to have been the largest flying animals ever seen on Earth.
While the species unearthed in Mongolia has not yet been identified, researchers were struck by the sheer size of the backbone fragments found.
'I immediately recognised that it might be a pterosaur and was astonished at its gigantic size,' palaeontologist Dr Takanobu Tsuihiji from the University of Tokyo told National Geographic.

'Straight away, we went back to the site and discovered the rest of the specimen.'

Under an IMF programme requirement, fuel import tax must be increased. The level of the hike is set out in Government Resolution 109 from 1 October. 

As of 24 October, Mongolia has a nationwide fuel reserve for 42 days.

The meeting was attended by Ambassadors of EU member states including Belgium, Finland, Austria, Slovakia, Estonia, Greece, Lithuania, Hungary, Germany, France, Sweden, Malta, Latvia, Slovenia, the Czech Republic, Italy, Bulgaria, the United Kingdom, the Netherlands, Luxembourg, Spain and Denmark.

President Kh.Battulga expressed his pleasure at meeting the Ambassadors and the opening of EU Delegation in Mongolia, which has been on agenda for about four years. “We believe that opening of EU Delegation in Mongolia will help intensify bilateral relations including trade ties,” said the President, citing statistical figures in Mongolia-EU trade.

Bilateral trade turnover reached USD 1.2 billion in 2016, with Mongolia’s export amounting to USD 643 million. “If we look at the EU, it is not a big sum,” said the President, explaining that he focuses on economic sector since he is a businessman-turned-politician.

President Kh.Battulga continued to state the fact that Mongolia is situated between two giant nations the world takes interest in, which he sees as “a geographic advantage”.

“Mongolia is rich in above and below-ground resources. Although Mongolia has big potentials in agricultural sector, we are far behind in terms of technology,” the President said. President K.Battulga suggested that European technologies can be introduced in Mongolia to process and export raw materials – the above-ground resources. "Almost all European countries have advanced agricultural sectors,” said the President

The President then answered questions raised by the Ambassadors, who also remarked on the growing political cooperation between Mongolia and the EU and agreed to intensify economic cooperation.

Mongolia-EU Framework Agreement on Comprehensive Partnership and Cooperation entered into force on November 1.

The countries will build a 1,200-kilometer long pipeline from Iran to India with the Russian energy major Gazprom developing several Iranian deposits along the route of the future pipeline.“The project will be implemented with the participation of Iranian, Pakistani and Indian firms,” said Novak.

The parties will work on the list of gas fields and prepare the necessary planning documentation. Construction is expected to start next year, according to the minister.“

This is a memorandum between the ministries. We have agreed to assist in the implementation of the project for gas supply from Iran to India. This is a large-scale project with Gazprom participation. The company will develop gas fields on Iranian soil with all the necessary infrastructure for gas supplies to India to be built,” Novak said.

Novak didn’t disclose how much it will cost but said it will be significant, as the pipeline will include an underwater part that will pass through the Persian Gulf.

Iran has been ramping up energy production to restore much of its lost market share since international sanctions were eased in 2015. However, decades of economic isolation and underinvestment left the country’s oil and gas infrastructure outdated.

International energy corporations took a chance to work in Iran with France's Total becoming the first to sign a deal to develop the country’s South Pars fields. The company estimated the initial investment at a billion dollars.
Royal Dutch Shell, Italy’s Eni, and Russia’s Rosneft are among more than 30 foreign companies that have qualified for oil and gas projects in Iran since sanctions were lifted.

American corporations are prohibited from working in the Islamic Republic except through foreign subsidiaries.

Developing countries carried out 206 reforms, accounting for 78 percent of the total reforms, with Sub-Saharan Africa implementing 83 reforms and South Asia implementing a record 20 reforms. A large number of reforms centered on improving access to credit and registering a new business, with 38 reforms each, as well as facilitating cross border trade, with 33 reforms.

Mongolia implemented substantive reforms to boost SME financing through Secured Transactions Reform project. Access to finance is a challenge faced by many Mongolian SMEs, which struggle to obtain bank loans as they do not own land or buildings that banks generally seek as collateral.

To address this issue, the International Finance Corporation (IFC), a member of the World Bank Group, and the Ministry of Justice have partnered with the Bank of Mongolia, Mongolia Bankers’ Association, and other stakeholders since 2013 to help reform the country’s secured transactions system to unlock affordable financing for SMEs. As part of the reform, a web-based pledge-notice registry was launched in February 2017, enabling creditors to search for existing interests on movable assets that they intend to use as collateral and to file security interest on their approved collaterals. In addition, the IFC-supported Law on Tangible and Intangible Movable Property Pledge went into effect on March 1, 2017. The new law, along with the registry, allows SMEs to offer moveable assets such as accounts receivable, inventory, livestock, equipment, and future income as collateral to banks – a major move to improve access to finance for SMEs. The system also reduces the need for paper documents and notifies creation of pledge-rights to existing and prospective lenders.

To date, around 90,000 pledge-notices have been registered, 38 percent of which is equipment, 24 percent is livestock, 5.4 percent is account receivables, and 2.0 percent is vehicles. Women account for 24 percent of the total borrowers.

“We are very encouraged to see the strong early results from this project” said Tuyen D. Nguyen, IFC Resident Representative in Mongolia. “Mobilizing movable collateral to boost access to finance, especially for MSMEs, can play a significant role in Mongolia’s sustainable economic recovery and job creation.”