From Magnolia to Mongolia: Goodwood rider Salmon set for Mongol Derby www.racingpost.com

The Mongol Derby, the world's longest horserace, attracts a disparate bunch of adventurers every year, and this time Clare Salmon, the former chief executive of the British Equestrian Federation, has thrown her hat into the ring for the gruelling 1,000km challenge.

Bitcoin hits new high ignoring recent cryptocurrency split www.rt.com

The world’s most popular cryptocurrency bitcoin has surged to record high despite initial investor concerns over its recent split, which led to the creation of a new virtual currency called Bitcoin Cash.

The price of bitcoin jumped over 15 percent since Friday and is currently hovering around $3,230 per token, according to Coin Market Cap, a cryptocurrency market cap and price checker with portfolio tracker.

Russia to reduce reliance on US dollar & payment systems in response to sanctions www.rt.com

Iron ore soars at $76 a tonne www.mining.com

Iron ore hit its highest level since April driven by the demand of China’s steel industry, whose production grew by 4.6 per cent in the first half of this year and whose imports of the steelmaking raw material are on course to exceed 1 billion tonnes in 2017.

Kremlin Plans Rapid Healthcare Reform in Time for Presidential Election www.themoscowtimes.com

Russian authorities will unroll healthcare reform nationwide in time for presidential elections next year, the Vedomosti newspaper reported, citing a source close to the Kremlin.

High-speed rail opens in Inner Mongolia www.china.org.cn

The first high-speed railway in the Inner Mongolia autonomous region was opened on Thursday.

Civil Aviation Directors of Asia-Pacific convene in Ulaanbaatar www.montsame.mn

Ulaanbaatar /MONTSAME/ The 54th Conference of Directors General of Civil Aviation, Asia and Pacific Regions opened today, August 7 in Ulaanbaatar.

Prosecutors seek 12-year jail for Samsung's Lee Jae-yong www.bbc.com

South Korean prosecutors are seeking a 12-year jail sentence for Samsung Electronics vice chairman Lee Jae-yong.
Mr Lee is facing charges over his role in a bribery scandal which led to the ousting of the ex-President Park Guen-hye.
It is alleged he made a large donation in exchange for government support of a merger of two Samsung subsidiaries.
He has been in prison since February over the scandal, but denies any wrongdoing.
'Closely tied to power'
At the final hearing, prosecutors called him the "ultimate beneficiary" of crimes committed in the scandal.
Prosecutors have accused Mr Lee and four other executives of bribing Ms Park's close confidante Ms Choi Soon-sil with millions of dollars in an attempt to win presidential favours.
They are seeking terms ranging from seven to 10 years for his co-accused.
"The defendants were closely tied to power and sought personal gains," the prosecutors said.
The prosecutors alleged the bribes were aimed at winning government support for a major restructuring of Samsung.
They said the restructuring would help to cement the leadership of Mr Lee, who was standing in as chairman for his ill father, Lee Kun-hee.
Mr Lee's lawyers said the allegations were unjustified and the defendants never sought anything in return for the donations.
A lower court ruling is expected by 27 August, when Mr Lee's current detention period ends.

Stock exchange weekly review (July 31 - August 04) www.montsame.mn

Ulaanbaatar /MONTSAME/ During the period between July 31 and August 04, 2017, MSE conducted 5 trading sessions with a total value of MNT 18,093,009,257. The daily average value was MNT 3.6 billion.

Xi: Inner Mongolia makes gains www.chinadaily.com

Guo Yongcai, a retired forestry worker at Arshaan, Hinggan League, Inner Mongolia autonomous region, moved from his shanty hut to a newly built apartment last year as the local government presses forward with renovations to the community.

Before moving into the apartment, the 77-year-old man had worked at the local forestry bureau for over 3 decades. President Xi Jinping visited Guo's home, a hut measuring 38 square meters, on a cold day in January 2014, during which Xi urged local authorities to pay more attention to improving people's livelihoods.

"As long as there remains one family or even one person who has not resolved their basic livelihood problems, we will not take a rest," Xi told local officials.

The president also visited a herdsman's family in Xilingol League. After learning about the difficulties of electricity and transportation, Xi urged the local government to develop a plan to solve the problems.

Following the president's instructions, the local government sped up its work in areas like shantytown renovation, poverty reduction, pensions and medical services. In the past five years, the local government says 1.78 million people have been lifted out of poverty, with their average net incomes increasing over 15 percent a year.

These improvements come as 2017 marks the 70th anniversary of the establishment of the Inner Mongolia autonomous region, the country's first such region. With a population of 25 million, the northern region is home to a mix of ethnic minority groups, including Mongolian, Manchu, Hui, Ewenki and Korean.

Last year, Inner Mongolia's GDP hit 1.86 trillion yuan ($275 billion), an increase of 7.2 percent year-on-year, while per capita GDP was 74,000 yuan, up by 6.9 percent.

During his trip to the autonomous region, Xi reiterated promotion of an ecological civilization system to protect the region's prairies and environment.

"We should contribute more to building a beautiful China, and explore a green path in accordance with natural law and the country's situation," Xi said.

The autonomous region, which has large coal reserves and rare earth deposits, used to suffer from ecological degradation and desertification caused by over-exploitation of natural resources, including coal, in past decades. The president's order to protect environment has led to a series of measures taken by the local government to improve ecology.

For example, the Xilingol League government designated in 2015 about 75 percent of the league's area as the reserve, where exploitation of resources is strictly limited. The league has denied 24 major projects in the past two years that could have posed a threat to the environment.

The autonomous region has put forward 37 regulations to build an ecological civilization through such measures as protecting the grasslands, forests, lakes and wetlands. Government officials will be held accountable in 84 different types of instances for failing to fulfill their duties of protecting environment.

During his inspection tour, Xi told Inner Mongolian officials to streamline industrial chains and focus more on innovation-driven development, thus transforming the autonomous region's economic structure and cutting emissions at the same time.

The president's instructions had been put into action by the autonomous region — last year, the proportion of the coal industry among Inner Mongolia's overall industrial economy has dropped from 34 percent five years ago to 22 percent.

Last year, about 21 percent of Inner Mongolia's electricity was generated using new energies. About 90 percent of the autonomous region's new job vacancies were created by small and medium-sized enterprises last year.

Xi has paid attention to the country's ethnic groups, and he has expressed concern for ethnic people's livelihoods on numerous occasions.

In May 2016, when he visited a Hezhe village in Northeast China's Heilongjiang province, Xi said China's 56 ethnic groups are part of one family and none will be left behind on the road to prosperity. The Hezhe are one of China's smallest ethnic groups, with a population of only 5,000 people, mostly in Heilongjiang.

Xi, in a March panel discussion during the annual session of the National People's Congress, the top legislature, vowed to safeguard the harmony and stability of the Xinjiang Uygur autonomous region and improve the people's livelihoods in the northwestern region.

"We should love ethnic unity as loving our eyes, cherish ethnic unity like cherishing our lives, and hold together tightly like pomegranate seeds," Xi told lawmakers from Xinjiang.

Inner Mongolia has made significant progress in poverty alleviation and promoting prosperity during the past 70 years, Foreign Minister Wang Yi said in late July at an event in Beijing organized to showcase the progress of Inner Mongolia during the past seven decades.

"Today, under the leadership of President Xi Jinping, Inner Mongolia is presenting an unprecedented new look to the world," Wang told an audience that included ambassadors and other diplomats.

He praised the region for its resilience in tackling desertification and poverty, and its pivotal role in the Belt and Road Initiative and the historic China-Russia Tea Road, once a vital lifeline for trade.

Inner Mongolia is a major link between two key Belt and Road countries — Russia and Mongolia. The China-Europe Land-Sea Express Route extends from Inner Mongolia to Europe.

The president has attached great importance to the opening-up of Inner Mongolia, saying the autonomous region is a door for the country's northward opening-up, given its geographic advantage of bordering Mongolia and Russia. The autonomous region has 18 ports and 4,200 kilometers of border linking with Russia and Mongolia.

The Inner Mongolia should boost reform and development through its opening-up, Xi said, adding that the autonomous region should develop port economies, enhance infrastructure construction, improve the mechanism to cooperate with Mongolia and Russia and turn the region into an important hub for China's northward cooperation.

The autonomous region, which boasts lush green pastures, is also known as China's dairy center due to its quality milk products and is attracting investment interest from countries such as New Zealand, according to the region's government.

Li Jiheng, Party chief of Inner Mongolia, said the region has developed into an important window into China's opening-up and a significant part of the Belt and Road Initiative.

"We will pursue innovative and coordinated development, and adapt activity to the new normal (in China's economic development) ... to ensure strong growth for new types of industrialization," Li said.