History of the AGROFERT group has been started nearly 25 years ago. Since that time, AGROFERT has grown to a group with more than 240 subsidiaries of several lines: chemical industry, agriculture, food processing, forestry and timbering, ground-technologies, technology and transportation, renewable energy sources and media as well. With a growing number of companies of AGROFERT group we have become one of the largest private employers in the Czech Republic. Every day, our success is created by nearly 34,000 employees who work together in 18 countries on 4 continents around the globe.

Mongolian Business Database (MBD) will promote the Mongolians who intends to employ in Czech Republic through the Mongolian-Czech Labour Cooperation Association's 6 month training by its information links and business network.

MBD also will develop the Agrofert agriculture's advanced technology and investment B2B opportunity in Mongolia.

During the visit, Foreign Ministers will hold official talks and exchange views on strengthening comprehensive strategic partnership established between Mongolia and China, deepening mutually beneficial cooperation in priority sectors, forwarding cooperation talks as well as on international and regional relations matters.

Foreign Minister Wang Yi will also visit rural area to get acquainted with issues on regional and border cooperation.

B.Batchimeg

Analysts from World Economics associated the decrease with the National Naadam Festival. In the months before Naadam, the Sales Managers’ Index had been dramatically increasing, thus reaching more than 60 points, but the index started plummeting in July.

World Economics highlighted that Mongolia’s business confidence index has been in a growth zone since the beginning of 2018, heralding the expectation that the business climate will further improve.

Defense Minister Sergei Shoigu said the five days of military drills will pave the way for the Vostok (East) 2018 military exercise. Shoigu said those maneuvers, set for next month, will be the largest since the massive Soviet war games in 1981.

The Kremlin spokesman, Dmitry Peskov, said President Vladimir Putin could attend the exercise.

Speaking to the top Russian military brass, Shoigu said army, air force and navy units will take part in the exercise that will be held across the Far East and Siberia. He added that military units from China and Mongolia will also take part.

As part of a smaller, separate military exercise this week under the auspices of the Shanghai Cooperation Organization, a security group dominated by Moscow and Beijing, Chinese warplanes landed Monday at a Russian air base in the Chelyabinsk region in the Ural Mountains.

The Russian military has increased both the scope and frequency of its maneuvers amid tensions with the West. It also has expanded military ties with China.

Moscow and Beijing have conducted a series of joint military maneuvers, including exercises in the South China Sea and navy drills in the Baltics last summer.

The two countries have forged what they described as a “strategic partnership,” expressing their shared opposition to the “unipolar” world — the term they use to describe perceived U.S. global domination.

The four-year studies' results were published on August 15 on Asia Russia Daily website. Hong Kong leads the list followed by Singapore, South Korea, Japan, China, Taiwan and Italy. Moreover Great Britain is in the 7th place, Canada and Germany are in the 8th place and Russia is in the 10th place.

Scholars suggest that IQ level is an important factor that influences to the national wealth and rates of economic growth.

The study said that Mongolia has the same avarage national IQ as Norway, USA, France, Denmark and Australia even though it has not achieved development like other East Asian countries on the top of the list and animal husbandry sector makes up important part of its economy until today.

The GDP totaled MNT eight trillion (USD 3.2 billion) in the January-June period of 2018, an increase of over MNT 475.2 billion (USD 193 million) compared to the same period last year.

The data indicated, that the growth is a result of the MNT 192.1 billion tax revenue growth and the favorable performance of the service sector,.

The impressive statistics contrast with those of the World Bank which predicted Mongolia’s economy growth would be 3.1 percent in 2018.

In a press release, the Anglo-Australian miner said that the new open-pit pipe will provide an important source of “incremental supply over the next four years to sustain production levels at the Rio Tinto operated mine.”

In the same statement, the company explained that A21 is located adjacent to Diavik’s existing mining operations in the Lac de Gras area. It took four years to build the pipe and first ore was delivered in March. Rio expects it to be at full production during the fourth quarter of 2018.

“It is a remarkable achievement to deliver this project safely and ahead of time in such a challenging environment, positioning Diavik to continue meeting the demand for its outstanding diamonds,” Rio Tinto Copper & Diamonds chief executive, Arnaud Soirat, said in the brief.

Some $350 million were invested in the construction of A21, with the financial burden shared between Rio and joint venture partner Dominion Diamond Corporation, the latter in control of 40 per cent of the operation.

As a whole, Diavik started activities in 2003 and has an annual production of some 6-7 million carats of predominantly large, white gem-quality diamonds.

In this regard, Minister of Labor and Social Protection S.Chinzorig, President of the Confederation of Mongolian Trade Unions Kh.Amgalanbaatar and CEO of the Mongolian Employers’ Federation Kh.Ganbaatar held a press conference on August 20.

At the press conference, Minister S.Chinzorig noted that according to relevant law, the minimum wage rate must be renewed every two years.
The decision will take effect from January 1, 2019. Moreover, the minimum wage will be increased to MNT 420 thousand from 2020.

Currently, the minimum wage is MNT 240 thousand, which came into force since January 2017. A working group was set up to revise the decision in April, 2018.

B.Misheel

Discussions focused on bilateral relations and provided an update on development cooperation relations between Luxembourg and Mongolia, particularly in the health sector. Minister Schneider expressed his willingness to continue Luxembourg support to the health sector in Mongolia, specifically in the fight against cardiovascular diseases. In this context, the Mongolian Ministerial delegation also visited the National Institute of Cardiac Surgery and Interventional Cardiology (INCCI).

In 2017, Luxembourg's aid to Mongolia amounted to €2.6 million.