The Mineral Council of Mongolia has reported that 70 new mining deposits were registered in the Mineral Resources Fund in August.

Of particular note, has been the inclusion of two gold deposits with 2070.2 kg, two copper deposits with 13,494,428 tonnes and 2490.9 tonnes of molybdenum.

Siemens is supplying thyssenkrupp with state-of-the-art electrical equipment consisting of 8DA10 (gas-insulated) and NX-AIR (air-insulated) medium-voltage switchgear, transformers, low-voltage energy distribution, Sinamics SL 150 and Sinamics S150 frequency converters as well as low-speed synchronous motors with a nominal power of 5.5 megawatts and smaller squirrel cage induction motors. The delivery also includes pre-assembled ‘E-Houses’ for installing the equipment as well as power factor correction and harmonic filtering equipment. To fulfil the requirements of the underground environment the dimensions of those “E-Houses” were reduced to an absolute minimum.

The transport system consists of a total of nine conveyors – seven underground and two at surface. Four of these conveyor belts have a gearless design, each with two 5.5 megawatts drive systems.
As one of the leading global providers, thyssenkrupp Industrial Solutions specializes in planning and supplying advanced mining and conveying systems. By using Siemens technology, the industrial group has already achieved one of the longest and most powerful conveying systems in the world. Siemens has been supplying thyssenkrupp with innovative, reliable and powerful drive systems and electrical equipment for international mining projects for over six years. This close and successful collaboration has allowed Siemens to win the copper mine project in Mongolia. The mine is approximately 550 kilometers south of the capital city of Ulaanbaatar and is located in the province Aimag of Umnugovi in the Southern Gobi region of Mongolia. The Oyu Tolgoi mine complex is a joint venture between the Mongolian government and Turquoise Hill Resources with Rio Tinto as the majority owner of Turquoise Hill Resources.

The chipmaker filed the lawsuit against Apple on Wednesday in California state court in San Diego, adding yet another front to their bitter legal battle. Apple is being sued for breach of a contract that governs the use of software needed to make chips work with other parts of mobile phones and communicate with networks.

The two companies are embroiled in an escalating dispute over technology licensing fees that Qualcomm charges for patents that cover the basics of how mobile phone systems work. Apple says Qualcomm is unfairly charging too much and leveraging its strong market position in chips illegally. Qualcomm has countered that Apple, one of its largest customers, has lied to regulators in an unfair attempt to bully it into charging less.

Apple uses Qualcomm modems, chips that connect the iPhone to cellular networks. It widened its suppliers to include Intel for some versions of the iPhone beginning with the 7 model. Apple representatives didn’t immediately respond to requests seeking comment.

Qualcomm alleges in the latest suit that Apple failed to protect the chipmaker’s software and isn’t allowing an audit to review how the iPhone maker handles the software, an obligation that Qualcomm says is included in their contract. Apple made an email request for proprietary information from Qualcomm and included an Intel engineer on the distribution list, according to the suit. It also alleges an Apple engineer working with a competitor asked a colleague to request information from Qualcomm on data download technology.

The suit comes a few days after it emerged that Apple is designing iPhones and iPads for 2018 that don’t use components from Qualcomm, according to a person familiar with the matter. If Qualcomm loses that business, it would cut the company’s revenue by about 7.5 percent, Raymond James & Associates estimates. The product plans are in the early stages and may still change, said the person, who asked not to be identified because the matter is private. Apple made the decision amid a dispute over the iPhone maker’s access to the San Diego-based company’s proprietary technology, said people familiar with the matter.

Qualcomm shares were up 3.8 percent to $55.47 in New York trading after the company reported better-than-expected earnings Wednesday. Apple was little changed at $167.85 ahead of its financial results later in the day.

The MSE ALL Index increased by 0.65 percent to stand at 1,152.62 points. The MSE market cap stands at MNT 2,247,106,617,566.

Those include the payment balance matched to the indicator of the same period of 2011 or with profit of USD201 million, foreign trade balance grew up by USD 767 million since October 2015, having profit of USD 1.452 million, official reserve of foreign currency (as of the first eight months) raised to USD 1.6 billion--up by 43.2 per cent or USD 482 million since the beginning of the year. Moreover, the budget deficit lowered to MNT 737 billion, declining by 64 per cent compared to the same period of last year, while the USD official exchange rate against Mongolian Tugrik (MNT) weakened by one per cent since the beginning of this year, proving stabilization of Mongolian economy.

In addition, the Development Bank of Mongolia (DBM) independently withdrew a source of USD96.6 million from foreign banks and financial organizations in the third quarter of 2017 within its basic activities. By this action the DBM has augmented foreign currency inflow, providing the currency for domestic need at proper level and has given support to stabilize currency fluctuation as well as it has raised international investors’ trust in Mongolian Government. The DBM also has been working to back stable economic growth with its activities including having made additional source that had not been reflected in the budget in compliance with the Law on Debt Management.

The DBM will strive to support a stable economic growth of the country further through constantly broadening cooperation with international bank and financial organizations.

On November 2, Minister of Foreign Affairs D.Tsogtbaatar and the EU Ambassador to Mongolia Hans Dietmar Schweisgut signed an Agreement on the Establishment and Privileges and Immunities of the Delegation of the European Union to Mongolia between the Government of Mongolia and the EU and the European Atomic Energy Community (EAEC) in the State House.

“The opening of the EU Delegation in Mongolia means that a new structure to ensure full implementation of the Framework Agreement has been created,” remarked Foreign Minister D.Tsogtbaatar, emphasizing the importance of the Delegation in further intensification of bilateral relations. “The opening of the EU Delegation is the outcome of diligent efforts of many diplomats from both sides,” he said.

The Minister of Foreign Affairs also expressed his appreciation towards the role and contribution of the EU and its member states in nurturing and sustaining democracy and human rights values in Mongolia. The Minister informed that he proposed to cooperate with the EU actively in promotion of SMEs during his meeting with the EU Ambassadors prior to the signing ceremony.

“For the EU, Mongolia is a like-minded partner, a country built on strong democratic potentials, sharing our values and protecting human rights,” remarked Ambassador Schweisgut following the ceremony. “Mongolia has also grown into a bright market economy, therefore we want to expand our relationship in all areas,” he added.

Ambassador Schweisgut stated that the EU looks forward, with the Delegation in Mongolia in cooperation with the Embassies of the EU Member States, to develop bilateral relationship further with focus on trade and investment areas. The Delegation will strengthen the EU's relationship with Mongolia, and is a sign of the EU's long-term commitment to the people of the country.

Ambassador Schweisgut is leading a group of more than 20 ambassadors and senior European diplomats from EU Member States to Mongolia on November 1-3 for their annual meeting with the Mongolian leadership as well as civil society representatives. The objective of these meetings is to take stock of relations between the EU and Mongolia, and to discuss how to strengthen, promote and extend the scope of cooperation between the parties.

“The nuclear industry is an important part of our cooperation,” said Novak at a meeting of the intergovernmental commission, adding “Rosatom could take part in the creation of a nuclear cluster in Saudi Arabia, including the construction of 16 modern nuclear reactors.”

Moscow and Riyadh have inked an agreement on energy and climate and a memorandum of understanding and cooperation in the energy sector.

The Russian Direct Investment Fund (RDIF) and Saudi Arabia’s Public Investment Fund (PIF) are considering investing in more than 20 projects worth over $10 billion, Novak said. As of now more than $1 billion has been spent on nine joint projects.

Russian Railways is negotiating the construction of two railroads in Saudi Arabia. The company is actively developing cooperation with Middle Eastern countries, having already agreed to electrify Iranian rail track.

The two countries are also discussing supplies of Russia’s Kamaz trucks as Riyadh has expressed an interest. Kamaz is Russia’s largest truck maker and plans to increase exports by almost five percent to 6,500 vehicles. The company ranks 16th among the world's top heavy truck manufacturers.

According to Khamenei, economic relations have vast room for improvement. "In the transportation sector, we can expand cooperation, using the main axis of Chabahar port to the port of Saint Petersburg, as well as in other economic areas,” he said.

During the meeting, which lasted about an hour and a quarter, Putin replied that Russia considers Iran “a strategic partner and a great neighbor, and we will take advantage of every opportunity to expand and consolidate relationships in all dimensions.”

The Russian president said the US wants to interfere in all matters of the world and the region and often ignores interests of its allies to do so.

However, since 2014, despite the sanctions, “we devoted our funds to scientific and technological progress, and we had significant growth in the fields of biotechnology, IT, agriculture and space industries. Now, in spite of the initial concerns, we have realized that we can do whatever we decide to," said Putin.

Putin is visiting the Iranian capital to attend a trilateral summit with the leaders of Iran and Azerbaijan.