The world's biggest smartphone and memory chip maker said operating profit fell 56% from a year earlier.

The results reflect a broader industry slowdown, weighed down by the US-China trade war.

The firm also faces more possible disruption to its chip business due to a trade row between Seoul and Tokyo.

The South Korean firm posted operating profit of 6.6 trillion Korean won ($5.6bn; £4.6bn) for the three months to June, a 56% drop from the 14.87 trillion Korean won posted in the same period a year earlier. The result was in line with company estimates.

In a statement, Samsung said weakness and price falls in the memory chip market continued "despite a limited recovery in demand".

"The company is facing challenges from uncertainties not only in business areas but also from changes in the global macroeconomic environment," it said.

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Japan recently imposed export curbs on certain industrial materials that Seoul needs to make semiconductors and display screens.

The move has raised concerns over the risk the trade spat presents to global technology supplies, and could affect Samsung's future earnings.

The company also said it would focus on the launch of new products in the third quarter including its first folding smartphone, which got off to a shaky start.

Samsung had to delay the launch of its new foldable smartphone earlier this year following reports of broken screens.

The defects with the device proved a source of embarrassment for the firm, which has seen declining smartphone sales and faces growing competition from rivals including China's Huawei.

Last week, Samsung said the Galaxy Fold will go on sale in September after improvements were made to the smartphone.

The vast northern nation locked between Russia and China is known for its ancient breed of tough, tiny horses ridden by Genghis Khan and other warlords - and often gives horses to visiting dignitaries.

The horse is unlikely to make the long trip to the United States, a senior U.S. administration official told reporters, though Mongolian officials are eager that it be given a name. Other U.S. dignitaries to receive a symbolic horse in the past include former Vice President Joe Biden, and former defense secretaries Chuck Hagel and Donald Rumsfeld.

Trump administration officials were eager to highlight the visit of Battulga, a champion wrestler and businessman who leads the democratic nation of only 3 million people, strategically located between two U.S. rivals. It is the first White House visit of a Mongolian president since 2011.

“We sometimes say that Mongolia has only got two physical neighbors - that it’s like a pearl between two oyster shells,” a second U.S. official told reporters.

Mongolia is concerned about its dependence on China, through which most of its goods move, and does not want to be subsumed by Chinese investments in infrastructure, telecommunications and banking, the first U.S. official said, speaking on condition of anonymity.

The nation would like to find more investment from the United States and other countries it considers “third neighbors” for its cashmere, produced by nomadic goat-herders.

Mongolia would also like more trade in weapons and help with its cybersecurity, the U.S. official said.

The country is home to rich deposits of coal, uranium, and rare earth minerals used in weapons, consumer electronics and other goods, but suffers from a lack of transportation options.

A rail link north to the Trans Siberian Railway could be one option, the U.S. official said.

Mongolia, a former Communist country, has also volunteered to play a part in Trump’s diplomatic overtures to Pyongyang, offering to host Trump and North Korean leader Kim Jong Un for a summit. The country is accessible by rail from North Korea.

Reporting by Roberta Rampton; Editing by Tom Brown

As a result, the resource-rich Asian country received 1.06 billion U.S. dollars into the state budget, an increase of 48.4 million dollars year on year, the MCGA said in a statement.

Mining is the most important sector of Mongolia's economy. The country is rich in natural resources such as gold, silver, iron, coal, copper, molybdenum, tungsten, phosphates, tin, nickel, zinc, and fluorspar.

The mining industry accounted for 84 percent of total exports in the January-June period, according to the MCGA.

Mongolia pledged to give the president’s 13-year old son Barron Trump a pony as a gift, a courtesy marking President Khaltmaagiin Battulga’s first meeting with Mr. Trump, according to a senior administration official.

It isn’t clear if Barron Trump will actually receive the pony—Secret Service protocol and ethics rules make gift giving to the first family a tricky business. But he’ll likely get to name it when Mr. Battulga comes to visit, the official said.

The two leaders are scheduled to meet Wednesday as part of the administration’s effort to apply pressure on China and Russia through economic and military assistance to various countries in the region.

Mongolia is landlocked by China and Russia and relies heavily on China for trade. Senior administration officials said 90% of Mongolia’s trade flows through China. The U.S. is hoping to discuss trade alternatives with Mongolia to make it more self-sufficient.

During his visit, Mr. Battulga hopes to discuss possible legislation that would allow Mongolia to ship cashmere to the U.S., duty-free, so it is less reliant on China.

The discussions come as the Trump administration is working to restart its trade talks with China. Mongolia is watching those talks closely given its own relationship with China.

Mr. Battulga is a populist business tycoon and ex-judo champion whose meeting with Mr. Trump follows a recent visit to Mongolia by the American president’s national security adviser, John Bolton. The last time a Mongolian president visited the White House was in June 2011.

Barron Trump’s gifted horse isn’t a first. By tradition, Mongolia presents special dignitaries with a horse. At least two former U.S. defense secretaries, Donald Rumsfeld and Chuck Hagel, were presented with horses as gifts.

Write to Vivian Salama at vivian.salama@wsj.com

According to the IAAC, former judge S.Tumurbat, one of the 17 convicted, has managed to escape with his family to the United States where he applied for asylum. He was detained by US border officers carrying a very substantial sum in US dollars.

On 26 June, President Kh.Battulga issued a decree suspending the judicial powers of 17 judges. That night, S.Tumurbat escaped to Russia through Altanbulag Border Crossing, from where he travelled on to the USA, said the IAAC. Earlier, S.Tumurbat’s father had made a getaway through China.

Evidently, corruption runs in the family: S.Tumurbat’s mother was the deceased judge L.Byambaa who died in custody in Detention Centre No. 461. L.Byambaa had been investigated by the anti-corruption body over Salkhit silver mine for shady financial gain.

Trump will discuss a free-trade pact with Mongolia, as well as U.S. investment in mineral deposits including rare earths, according to a senior Trump administration official. The elements are important to the American technology industry and now mostly sourced in China.

The official briefed reporters at the White House on Tuesday on the condition of anonymity.

Mongolia is seeking trade routes that don’t involve China and wants help developing cashmere wool, one of its main exports, into finished products so that it doesn’t have to be shipped to China for processing, the official said. About 90 percent of Mongolia’s trade currently passes through China, according to a second official.

Trump seeks out more allies in the region as the U.S. trade dispute with China intensifies. Earlier on Tuesday, the U.S. president lashed out at Beijing for slashing its purchases of American agricultural products. The country continues to “rip off” the U.S., he said, just as negotiators resumed talks in Shanghai following a three-month impasse.

Mongolia may also be important to the U.S. as it confronts Russia. Relations between Washington and Moscow deteriorated after U.S. officials concluded the country interfered in the 2016 presidential elections and haven’t improved despite Trump’s overtures to Russian President Vladimir Putin.

Trump has a warm relationship with Mongolia’s government already; the administration official said that at some point in the past, the country gave the president’s son Barron a horse, which is still in Mongolia. It’s unclear if Barron would be allowed to accept it, the official said.

Mongolia has asked for Barron or someone in the administration to name the pony, the official said, and hinted that the president may do so at his meeting with Battulga.

The Belt and Road initiative is a Beijing-led program to boost economic and trade ties in dozens of countries in Asia, Europe and beyond, mostly through investments in energy and infrastructure.

According to a study published by Greenpeace on Monday, China’s wind and solar power investments in Belt and Road countries amounted to 12.6 gigawatts (GW) since the initiative was launched in 2014. It had invested in just 0.45 GW of solar prior to 2014.

The country has also invested in 67.9 gigawatts of new coal-fired power in Belt and Road countries since 2014, but Greenpeace climate and energy campaigner Liu Junyan said the increase in the share of renewables should be welcomed.

“Chinese investors’ ratio of coal to solar is now the same at home and abroad - both are still six-to-one (in favor of)coal, unfortunately, but I’m amazed to see what five years of equity investment in solar made possible,” Liu said.

China has been building dozens of new renewable energy projects at home to reduce the share of coal in its total energy mix to 59% by the end of last year. It has also been encouraging its existing coal-fired power plants to install ultra-low emissions technology.

But China has been criticized for funding coal-fired power projects overseas that would not meet its own emissions standards, with a study published earlier this year saying it is supporting more than a quarter of all new coal-fired plants worldwide.

China is expected to put another 40 GW of solar power capacity in operation at home this year, energy officials said on Friday.

China’s total coal-fired capacity also expected to rise by another 45 GW this year, with the total eventually expected to peak at around 1,300 GW, up from 1,140 GW at the end of last year, researchers from China’s State Grid said this month.

"Unfortunately, a total of 60 people, including nine children, have been killed in water-related accidents in the country so far this year. Nearly half of them (were) drowned in July alone," the NEMA said in a statement.

July is the peak season for Mongolians to travel across the country.

The water levels in Mongolia's major rivers, including the Tuul, Kharkhiraa, Khovd, Buyant and Selenge, have exceeded the warning levels by 10-105 centimeters due to heavy downpours since mid-July, NEMA said.

Heavy rain is expected to continue over most parts of Mongolia in the coming days, it said, urging citizens to stay away from flooded rivers.

On July 29, 2017, the Embassy of Italy was opened in Ulaanbaatar. As of today, 54 Italian invested companies are operating in Mongolia, making investment of USD 36.8 million. Italy invested mainly in the areas of trade, food industry, processing of animal origin raw materials and textile.

Trade turnover between the two countries reached over USD 70 million, of which USD 43.4 million are export and USD 33.3 million are import.

Since 1990, the Government of Italy has rendered non-refundable aid worth USD 7.2 million to Mongolia. Italian Minister of Economic Development C.Calenda and Member of Parliament A.Undraa are working as chairpersons of Mongolia-Italy Intergovernmental Commission and Mongolia-Italy inter-parliamentary group.