"To achieve the goals, we have to attract more investment. We are working to optimize the business environment and make tax (reforms) in a bid to restore foreign investor confidence," Dorjdamba Damba-Ochir, head of the committee, said.

Mongolia's GDP grew 5.1 percent year on year in 2017, compared to 1.0 percent the previous year.

The International Monetary Fund has predicted Mongolia's GDP growth will be 5 percent this year and climb to 6.3 percent next year.

Editor: Li Xia

Agriculture accounts for 73 percent of the land use in Mongolia and makes up 13.3 percent of the country’s GDP. The bulk of this is connected with livestock rearing and related milk, dairy and meat.

Boeing (BA), the world's largest aircraft manufacturer, says the concept is still in the early stages of development. Key technical challenges will need to be solved before the company will even produce a prototype, Boeing spokesperson Brianna Jackson said Wednesday.

It's possible the concept could become a reality in 20 to 30 years, Jackson said in an email.

"Developments takes years to complete, and even more so with a technology that requires additional testing and refinement as we work to understand how it might fit into the market place," she said.

Boeing is serious about hypersonic and has been testing ultra-fast technology for decades, Jackson said.

And this concept is just one of several in the works. Earlier this year, Boeing unveiled a design for an autonomous hypersonic drone that could be used by the military for surveillance.

Its passenger plane concept may be used by the US military before it ever hits the commercial marketplace. Jackson, the spokesperson, did not give examples of its potential defense purpose, but instead pointed to the drone concept.

"[W]e'd see something like this first before a passenger hypersonic concept," Jackson said.

If Boeing's latest concept is realized it will easily rank among the fastest piloted vehicles ever flown.

It would be more than twice as quick as the legendary Concorde, which could make transatlantic flights in under four hours and retired over a decade ago. It would even be faster than the Lockheed SR-71, which carried two Air Force officers up to speeds of 2,193 miles per hour in 1976.

Boeing isn't the only player in the game. Other companies — such as Lockheed Martin and Aerion Corporation — are also working to develop hypersonic aircrafts.

And Elon Musk's rocket startup, SpaceX, has plans to use the spaceship portion of its interplanetary transport system to shuttle people around the globe at unheard of speeds. Musk said at a space conference last year it could take passengers from New York to Shanghai in just half an hour.

Heidrick & Struggles on Thursday released its "Superaccelerators", a group of 19 companies among 500 companies with the highest market capitalizations in the world that have achieved high levels of sustained organic growth and profitability according to the Chicago-based firm’s standards.

The firm said while the US dominated the list for the past two years, the 2018 list has shifted toward more representation from Asia Pacific with 11 companies from the region, including seven from China and one from Hong Kong. China had six companies on the 2017 list and three in 2016.

Chinese companies on the 2018 list include Tencent Holdings Ltd, Ping An Insurance (Group) Co Ltd, Kweichow Moutai Co Ltd, Country Garden Holdings, China Evergrande Group, and NetEase Inc. AIA Group Limited, based in Hong Kong and China, was also on the list.

Only six of the companies on this year’s list are based in the US, down from 16 in 2017 and in 2016. Two companies are in Europe, up from none last year and one in 2016.

The top-ranked company is US-based Alphabet Inc, parent of Google. Other American companies on the 2018 ranking include Visa Inc and Charles Schwab.

Top 100 companies were introduced to 400 investors and 5000 participants during the Echelon Asia Summit 2018 held in Singapore on June 28, 29 and and 10 best companies were selected among them. Three Mongolian startups including ‘Erxes’ marketing platform, ‘LendMN’ fintech financial services company and ‘iHotel.mn’ search engine are in the TOP 100 for the first time.

APAC Regional Director of Techstars D.Bat-Oktyabr emphasized that the platforms developed by these companies stood out with speed, productivity, usage and product growth compared to their internationally recognized counterparts.

The selected companies will familiarize with Singapore’s startup business environment, exchange experiences and receive wide range of recommendations from Asian billionaire mentors on how to compete on the international market.
B.Misheel

The four-day meet in Ulaanbaatar is expected to host over 3,000 delegates and participants from Asian and Pacific countries, governmental and inter-governmental organisations, the United Nations and other stakeholders, an official statement said today.

Rijiju, the Union Minister of State for Home, will present the country statement on July 4 and chair a technical session on disaster risk reduction, it said. P K Mishra, Additional Principal Secretary to the Prime Minister, will co-chair a session on ‘strengthening disaster resilient infrastructure and urban resilience on July 5.

Kamal Kishore, member, National Disaster Management Authority, will be a speaker at the same event and R K Jain, member, NDMA, will present a case study on heat wave during a technical session.

India will also organise a side event during the AMCDRR on cultural heritage and disaster risk management, the statement said. Participants from private sector/the Federation of Indian Chambers of Commerce and Industry (FICCI) will attend an event being jointly organised by the Mongolian Chambers of Commerce and the FICCI.

Some Indian companies are also expected to present their firms’ activities on disaster risk management, it said.

The 33-year-old forward leaves the Cleveland Cavaliers to join an iconic franchise that has won 16 NBA titles but is rebuilding after posting a losing record for five consecutive seasons.

The decision by the game’s best all-around player to leave his native Ohio for Los Angeles, where he has a home, will make the Lakers an instant contender in the Western Conference where the Golden State Warriors have won three of the last four NBA titles, defeating Cleveland each time.

The other title, for the 2016 season, went to the James’ led Cavaliers.

Originally signed by the Cavaliers in 2003, James, who grew up in Akron, left Cleveland in 2010 to join the Miami Heat and led them to four consecutive NBA Finals, winning in 2012 and 2013.

He returned home to the Cavaliers the next season and ended a long championship drought for Cleveland with the NBA title in 2016.

Reporting by Gene Cherry in Raleigh, North Carolina; Editing by John O'Brien/Peter Rutherford

According to the Finance Ministry, the Tavan Tolgoi coal mine project is expected to increase export revenue by USD 2.8 billion and to contribute from USD 400 to a billion in tax revenue. In addition, the Tavan Tolgoi mine project will create 5800 new jobs in the Mongolian Gobi Desert.

Tavan Tolgoi is Mongolia’s largest coal mining complex and is located in the South Gobi desert close to the border with China. Divided into six sections: Tsankhi, Ukhaa Khudag, Bor-tolgoi, Borteeg, and South-west and Eastern coalfields, the mining complex has been ranked the world’s most profitable and untapped coal deposit. It is said to be the second largest coal deposit in the world. Over the years the coal mine has often been hailed as a panacea for Mongolia’s economic problems along with cooper gold mine, Oyu Tolgoi.

The company's net profit reached MNT 2.4 billion in 2017 while yearly revenue increased by 41 percent.