Chinese investors buy ad tech startup Media.net for $900m www.chinadaily.com

China becomes Kyrgyzstan's second largest investor www.xinhuanet.com

VW supplier clash stops output at six plants www.theguardian.com

China scraps anti-dumping duties on Japan steel www3.nhk.or.jp

Russian fantasy film becomes box office hit in China www.rt.com

Tourism 'will hold up' after Brexit www.bbc.com

Tourism in the UK will "hold up well" in 2016 after the Brexit vote but fewer jobs than expected will be created in the longer term, executives have said.
The World Travel and Tourism Council (WTTC) is predicting growth in the sector of 3.6% in the UK over the year.
This is higher than predicted global growth in the sector of 3.1%.
It said falling domestic spending would be offset by international visitors loosening the purse strings owing to a more favourable exchange rate.
Impact
The WTTC said that, despite the initial solidity of the sector in the UK, there would be some added pressures in the next few years owing to the UK's vote to leave the EU.
It said that the benefit in terms of overseas visitors' spending from a weaker pound would wear off in 2018 to 2020.
General economic growth in the UK would be weaker and that would affect the industry.
"By 2020, we now expect that the UK travel and tourism sector will support 1.88 million direct jobs, which is approximately 75,000 fewer jobs than forecast in the annual update at the start of the year," it said in its latest economic update.
Earlier this month, travel researcher ForwardKeys said Brexit had had an "immediate, positive impact" on tourism to the UK. It said flight bookings to the UK jumped since June, driven by the sharp fall in the pound, with 4.3% more flights booked to the UK in the 28 days following the vote than last year.

Ryan Lochte: Speedo and Ralph Lauren among four to end sponsorship www.bbc.com

Four sponsors have dropped disgraced US Olympic swimmer Ryan Lochte, including swimwear manufacturer Speedo and fashion label Ralph Lauren.
They were followed by announcements from skin care firm Syneron-Candela and Japanese mattress maker Airweave.
It comes after Lochte lied about being robbed at gunpoint by a policeman after a night out during the Rio Olympics.
Lochte, a 12-time Olympic gold medalist, has earned millions of dollars through endorsements.
Speedo, the biggest sponsor of the four, said: "We cannot condone behaviour that is counter to the values this brand has long stood for."
Lochte, aged 32, said he respected Speedo's decision, and thanked the company.
"I am grateful for the opportunities that our partnership has afforded me over the years,'' he said.
Ralph Lauren, which has removed some of Lochte's images from its website, said its sponsorship of the swimmer had been only for the Rio Olympics and would not be renewed.
Ralph Lauren and Airweave both stressed that they would continue their support of the US Olympic and Paralympic teams.
Syneron-Candela said: "We hold our employees to high standards, and we expect the same of our business partners.''
Speedo said it would donate a $50,000 portion of Lochte's sponsorship fee to the charity Save The Children's Brazilian operation.
The value of Lochte's Speedo sponsorship has not been disclosed. The contract reportedly expires this year after 10 years.
The US business magazine Forbes calculated that in the year of the 2012 London Olympics, Lochte earned about $2m in sponsorships from companies such as Gillette, Nissan, AT&T and Gatorade.
Lochte's performance at Rio did not reach the heights of his London triumph, but Forbes estimated his endorsements would still have been between $1m-$2m.
Disdain
The saga started when Lochte and three team-mates returned to the Olympic village after a late night out in Rio.
They tried, unsuccessfully, to use the locked toilet at a garage and urinated outside instead.
After first claiming that he and his three team-mates had been robbed by bogus policemen, Lochte back-tracked and admitted he had, while still drunk, "left details out" and "over-exaggerated some parts of the story".
Despite the evidence against him, including CCTV footage, he has however denied that he actually lied in his initial account to Brazilian police.

Lochte's behaviour has been met with disdain in the US and he has been widely pilloried in the US media.
On 19 August the New York Post carried a front-page headline describing him as the "Ugly American", along with the slogan "Liar, Liar, Speedo on fire".
Lochte is one of the most successful swimmers in history, with 12 Olympic medals, and he once had his own reality television show in the US.
In Rio, he swam in two events, winning a gold medal in the 4x200m freestyle relay along with team-mate Jack Conger.
"We appreciate his many achievements and hope he moves forward and learns from this experience," Speedo said of Lochte.

Russian Companies Fight For Secure Government Messenger Contract www.themoscowtimes.com

Russian companies have begun bidding for the rights to develop a new secure messaging service for government.

Almost 28,000 workers affected by VW production problems www.rt.com

The biggest European car producer Volkswagen is facing production delays in a dispute with component suppliers. A week of production delays at the main Wolfsburg plant may cost VW up to €100 million in gross profits.

7th Mongolia Investment Summit www.mongolianbusinessdatabase.com

Join us on 1-2 November 2016 for the 7th Annual Mongolia Investment Summit at The Peninsula Hong Kong. Hear from Government Ministers and senior mining representatives in Mongolia, notably Rio Tinto, who are confirmed to begin developing OT phase 2, and learn how this impacts the mining supply chain and the economy at large. 10% Discount available for MBD registrants on delegate tickets. Inquire within for the promo code at 7710911,99066062, 95855059
Complimentary passes are also available for buy-side investors (subject to approval). Register and/or download the brochure at:http://hongkong.mongoliainvestmentsummit.com/