Tesla (TSLA) announced the price cuts on its official Weibo account late Tuesday, saying the move was possible because of the lower import tariffs.

In cash terms, the savings are significant. The price of the most expensive Model X will be cut to 1.3 million yuan ($204,000) from 1.4 million yuan ($219,000), according to a Tesla sales director in Beijing who asked not to be named because she's not a company spokesperson.

The cheapest version of the Model S will now cost 710,600 yuan ($111,200), down from 758,900 yuan ($118,800).

Tesla fans don't need to wait until July 1. In its Weibo post, Tesla said the new lower prices would apply to all cars no matter when they go through customs, and "a few cars in stock" would also be subject to the discounts.

But even after the price cuts, a Tesla in China will still cost a lot more than in the United States, where prices of the Model S start at $75,000.

China's tariffs on cars have long angered President Donald Trump. The United States charges a tariff of 2.5% on imported cars.

The Chinese tariff cut comes as the world's top two economies try to defuse the threat of a full-on trade war.

Other car companies have welcomed the decision to cut tariffs. Germany's Porsche (POAHF) said Tuesday it would consider lowering its prices for the Chinese market.

The introduction of new product into the Mongolian stock market opens up a door for more than 30 mining companies operating in Mongolia, but listed on foreign stock exchanges to trade their stocks here. It will allow the public to become shareholders and benefit from natural resources. In addition, it will be a step forward to the development of Mongolian stock market towards the global benchmark.

B.Misheel

Discovery will now embark on an intense programme to bring the project into production as soon as possible. The Project has already been granted a 30 year Mining Permit which will shorten the lead up time to go into bullion production.

“The drilled target at Gutain Davaa has a resource that has excellent potential to be expanded to about 500,000 ounces of gold and possibly more. Other targets on the mining license have potential to add resources of similar grade.

District wise there is excellent potential to locate substantial gold resources of similar nature to those at Toordogiin Shil, or possibly large tonnage lower grade resources similar to those at Boruu and Gasurt. There is a high chance of the district turning into a new gold camp.

Providing MMGL is able to work with the Soum authorities and enter into arrangements with them that are of distinct benefit to the local community, there is an excellent probability that MMGL will be able to establish itself as the preferred operator within Batshireet Soum and have advantages in obtaining new exploration titles.”

Money supply reached MNT 16.2 trillion and money flow rose by 30 percent compared to same period of the previous year. Savings grew by MNT 144.5 billion and Tugrik savings make up 55 percent of it whereas dollar savings have decreased.

Investment worth USD 547.9 million was made in Mongolia in the first quarter of 2018 and most of it went to mining sector. Balance of payments had MNT 42.2 million deficit, however, it is a decreased amount compared to 2017.

Generally, according to the four months' review, money supply and value of tugrik are rising as well as amount of consumption loan increases, highlighted the Bank of Mongolia.

B.Batchimeg

In case the foreign investor, foreign national who is to work in public or inter-governmental organization and family members of these people reside in Mongolia, getting a visa prior to arrival was necessary. According to the new modified regulation, temporary visitors /J-tourism, B-business and H-private purpose categories/ will be permitted taking their residence application into consideration.

It also includes many improvements, such as availability of applying visa and invitation requests online. 
It aims at creating favorable condition to issue visa to foreign investors, emigrants and foreign nationals born from Mongolian citizens, facilitate visa issuance conditions and deliver public services promptly.
In addition, the Cabinet approved a renewed regulation on ‘Residence of foreign nationals in Mongolia and the registration’.

M.Unurzu

The cabinet has approved a plan to privatise over 18 state-owned enterprises including 49 percent of MIAT, the State Bank, the Mongolian Stock Exchange, Telecom Mongolia, the Information and Communication Network, the Mongolian Commodity Exchange and the Mongolian Securities Clearing House. In addition, 20 highway maintenance companies operating in the provinces will be privatized. The proposal will now be discussed by parliament.

However, the cabinet decided to postpone and reconsider the privatisation of 30-40 percent of Thermal Power Plants III and IV, which are strategically important for Ulaanbaatar, the world's coldest capital, and the lives of the people who live there.

The countries followed similar moves by the European Union, India and China. Russia estimated that it would lose $538 million because of the US tariffs, which President Donald Trump imposed in March. Japan reported $440 million, while Turkey added a further $267 million.

Earlier, China, the EU and India estimated their losses at $612 million, $1.6 billion and $165 million respectively. The countries that have turned to the WTO say the tariffs – 25 percent on steel and 10 percent on aluminium – cannot be explained by the US security concerns, the issue on which Washington is basing its actions.

Under WTO rules, if any country seeks to cut its imports, thus protecting local producers, it should compensate its trade partners with a net increase in imports of other goods. Washington has refused to do so. Japan and Russia have not provided the details on retaliation, but Turkey has said it would target 22 American goods, ranging from nuts, rice and tobacco to cars and steel products.

According to the report, IPTV made up 11.7 percent of the total revenue in the mass media and communications sphere. Information and communications technology has rapidly improved the lives of people and the number of cable television channels drastically increased in recent years. It has been a while since the Over-the- Top technology was introduced to the public. For instance, based on this technology, the Unitel Group launched LookTV service, which enables users to access the media contents through their mobile phones and notebooks.

Since 2015, the ILO has received financial support from the European Union to implement core labour standards to realize decent work and support Mongolia’s bid for economic diversification. Aligning national labour laws and regulations with international standards is central in this partnership. The EU has provided further support to ILO-Mongolia cooperation to implement the project on ‘Sustaining GSP-Plus Status by Strengthened National Capacities to Improve ILS Compliance and Reporting-Mongolia Phase 2’, which promotes greater understanding about trafficking in person for labour exploitation and alignment of national laws and policies with the ILO Protocol of 2014 to the Forced Labour Convention, 1930 (No. 29).

Forced labour in its modern form is widespread. According to the ILO’s Global Estimates of Modern Slavery, trafficking in persons for labour exploitation in the private sector is on the rise and that there are about 16 million victims at any given time. The global community, including Mongolia, is committed to “tak[ing] immediate and effective measures to eradicate forced labour, end modern slavery and human trafficking and secure the prohibition and elimination of the worst forms of child labour, including recruitment and use of child soldiers and by 2025 end child labour in all its forms.” The Alliance 8.7 supports countries around the world to share knowledge and experiences.

A panel discussion on national response to trafficking and labour exploitation at the GSP+3 project launch welcomed action to tackle trafficking in persons for labour exploitation. Greater awareness about forced labour, labour exploitation and knowledge of international good practices on preventative measures and victim protection would contribute to improved services to protect both Mongolian and migrant workers in Mongolia and Mongolian workers going abroad. The ILO was recommended to implement the project with the stakeholders of Mongolia’s National Programme to Combat Human Trafficking (2017 -2021).

The details and progress on project implementation are available at the project office in Ulaanbaatar. The EU-ILO-Mongolia partnership for this project is within the framework of the EU’s action to support GSP+ beneficiary countries to effectively implement international labour standards and comply with their reporting obligations.
source: ILO