The world's largest e-commerce operator by transaction volume on Thursday reported its revenue jumped by 56 percent to 50.2 billion yuan ($7.4 billion) in the quarter ended June 30 for the fiscal year 2018.

That has beaten an annual revenue guidance frame of 45 percent to 49 percent given by its senior executives in June.

Net income nearly doubled to 14 billion yuan from the same period last year.

"Our technology is driving significant growth across our business and strengthening our position beyond core commerce," said Daniel Zhang, CEO of Alibaba, told an investors' call on Thursday night.

The results represent "a sharp acceleration" for just this quarter, said Piyush Mubayi, an analyst at Goldman Sachs who maintained a buy rating for Alibaba.

Annual active consumers across all Alibaba platforms, including Taobao, the mom-and-pop online marketplace, to business-to-customer site Tmall, surged moderately to 466 million, or around one-third of the Chinese population. Mobile users reached 529 million, up by 22 million over March 2017.

Revenue from core commerce increased 58 percent year-over-year to 43 billion yuan, driven by increased traffic on its business-to-customer marketplace Tmall, as it continued to fend off rivals like JD.com Inc.

Tmall's 49 percent growth in physical goods gross merchandise volume is due to increased traffic led by new users and the effects of personalization and social commerce, said Chief Financial Officer Maggie Wu.

The adoption of artificial intelligence, big data and cloud computing has started to pay dividends for Alibaba with the advent of uncannily precise product searches, and relevant and holistic product recommendations based on shopping habits.

"Digital media and entertainment and core commerce will continue to create more synergies," she told investors.

The contribution from its international retail revenue is also notable, expanding 136 percent to 2.6 billion yuan thanks to its increased stake in Southeast Asian e-commerce vendor Lazada Group.

Other highlights include a significant 96 percent in cloud computing, with sales reaching 2.4 billion yuan and paying customers hitting 1 million.

Accordingly, the Cabinet instructed D.Oyunkhorol, Minister of Environment and Tourism, Ts.Dashdorj, Minister of Mining and Heavy Industry, and Governor of Ulaanbaatar city to follow “Procedure on Activities to Mine Natural Resources by Micro Mining” and take actions on locating damaged areas.

The Governors of Tsenkher soum of Arkhangai aimag, Buregkhangai soum of Bulgan aimag, Shariin-gol of Darkhan-Uul aimag, Zaamar of Tuv aimag, Yeruu and Khuder soums of Selenge aimag were instructed to forcedly evict individuals and legal entities illegally mining gold in the area.

Concerning the violations of “Rich Munkh” LLC, which has illegally mined gold in Yeruu soum of Selenge aimag and heavily damaged the environment, the related Governors were ordered to resolve in accordance to the law and compensate for the damage caused to the environment.

The ambassador was welcomed by the agency’s Editor-in-Chief and Deputy Director General Metin Mutanoglu and Foreign Languages Editor-in-Chief Mehmet Ozturk.

Mutanoglu briefed the ambassador on the agency’s international operations and its News Academy, which was established in 2011.

The academy holds frequent seminars and provides a number of training schemes, including a War Journalism Certificate Program.

During a presentation Mutanoglu also gave an example of the agency's photojournalism, citing its photo coverage of the violent clashes between hundreds of white nationalists and counter-protesters in Charlottesville, Virginia last weekend.

Anadolu Agency's photograph of the unrest were widely used by the international media.

The pair also discussed boosting and strengthening cooperation between Anadolu Agency and Mongolia’s national news agency.

Ravdan offered to invite Beijing-based Anadolu Agency reporters to operate in Mongolia and provide the local agency with English-language news.

"The accumulation of knowledge between the Mongolian and Turkish peoples is great. Mongols are proud of Turkey’s history," Ravdan said.

"For us, Turkey is an Asian country. People living in Turkey have poor knowledge of Mongolia; we want to establish closer ties," he added.

Ravdan emphasized that Turkey and Mongolia share the same roots and geography and said strengthened cooperation could improve the lack of information about today’s modern Mongolia.

The ambassador added that political relations between the two countries were good but that there was a lack of economic ties.

Mutanoglu said there would be more coverage from Mongolia, which would influence the investment of Turkish businessmen in the country.

As 2019 will mark 50 years of diplomatic relations between Turkey and Mongolia, Mutanoglu said preparations would be made to celebrate the anniversary.

1 - week CBBs
1-week CBB plays an important role in managing the reserves of banks and is the core monetary policy instrument of the Bank of Mongolia. The interest rate on CBB will be the policy rate of the BOM and will serve as a guide interest rate on the interbank market. It was first introduced in July 2007, with fixed rate and unlimited bidding, and traded on a regular basis every Wednesday at the interbank market. This had attracted the banks’ interests providing the possibility for the banks to place their excess reserve in short term asset. Since the introduction of this instrument, there has been a substantial change in the way banks manage their reserves. For the favorable adjustment of CBB rate and loan principle along with the well balance of togrog and foreign exchange, 1 - week CBB auction has been held in the form of competitive interest rate since May 2010. In doing so, the upper and lower limits of the bank bids are to set +/- 2 per cent of the policy rate.

In July of this year, the IPPI increased by 3.9% compared with the previous month change was mainly due to increase of 5.1% in mining and quarrying sub-sector prices (price of mining of coal and lignite, extraction of peat increased by 6.7%, and other mining and quarrying increased by 5.1%).

The project will be overseen by Rosatom’s subsidiary for South Asia Projects ASE.

Russia will take part in the construction of at least two out of six reactors, according to Andrey Lebedev, the vice-president of the company.

The new power station will be 20 kilometers from the Tianwan nuclear power plant. Built in 2006 by Russia's nuclear power equipment and service export monopoly owned by Gazprom, it is the biggest joint NPP project between countries.

Two of its units with a capacity of 1,000 MW each were opened in 2007, while the construction of the third and the fourth units is still underway. The countries are reportedly negotiating the possibility of adding seventh and eighth units.

Last year, Beijing and Moscow said they intended further strategic partnerships in the peaceful use of nuclear energy.

“The fact China offered Russia to build new nuclear power plants shows that plans for extending cooperation in the sector are moving to practical implementation,” said Aleksandr Uvarov, the chief editor of the AtomInfo web portal, as quoted by RIA Novosti.

The SIF expenditure reached MNT 1.1 trillion, showing an increase by 12.2% against the previous year.
Partially due to increased revenue of pension insurance fund by MNT 151.2 billion and health insurance fund--by MNT 45.4 billion. The SIF revenue increased in the first seven months of 2017 by MNT 231.6 billion compared to the same period of the previous year.

The SIF expenditure increased by MNT 118.1 billion in the first seven months of this year against 2016. The main reason goes to increase in pension insurance fund expenditure by MNT 85.7 billion and health insurance fund by MNT 19.0 billion.

As an important step in developing the World Bank Group’s (WBG) Systematic Country Diagnostic (SCD) and Country Partnership Framework (CPF) for Mongolia, public engagements with diverse stakeholder groups will be organized aiming at gathering their views, recommendations and priorities to feed into the strategy of support.

The main objective of the engagements for the SCD in Mongolia is to identify key development opportunities, challenges and prioritize critical interventions to accelerate progress in ending poverty and boosting shared prosperity in a sustainable way. 

For the CPF, the main objective is to identify and prioritize critical areas where the World Bank Group support would have the biggest impact in promoting sustainable poverty reduction and shared prosperity.

KEY STAKEHOLDERS:

Engagements will be conducted with a wide range of stakeholders, including:

Government: Ministries in the capital and government officials in four regions
Parliament
Development Partners: UN agencies, donors, multilateral and bilateral development partners
Civil Society Organizations: Non-profit organizations and associations, labor groups, think tanks, academia and research groups in Ulaanbaatar and four regions
Private Sector: Representatives from the business sector, foreign and domestic invested businesses, small and medium enterprises, chambers of commerce, business councils.
LOCATION AND PARTICIPANTS:

The engagements will take place in Ulaanbaatar city as well as selected provinces from the Western, Khangai, Central, and Easter regions of Mongolia. 

Khovd: Participants from the Western region
Orkhon: Participants from Khangai region
Omnogovi and Darkhan-Uul: Participants from the Central region
Khentii: Participants from the Eastern region
ENGAGEMENT PROCESS:

The engagements process will include both face-to-face meetings as well as online/web-based platform to enable participation by a wide range of stakeholders. The structure of face-to-face meetings will allow plenary presentations and discussions and, if needed, small group discussions, and reporting with a neutral facilitator. For online engagement, an online survey , will be available to people interested to participate who may not be invited.

On top of this, citizens will be able to share their vision for Mongolia’s future by filling in the postcards and sharing them on backdrops set up in Dunjungarav, a public service center, and in National University of Mongolia.

It now takes at least one month to finish customs clearance at Ganqimaodu border crossing, a much longer period compared with previous two weeks, market sources told sxcoal.com.

Impacted by this, the number of coal trucks from Mongolia to China declined sharply to 600 each day in mid-August from 1,400 in early July, and daily coal imports also plummeted to 40,000 tonnes or so from 100,000 tonnes.

Besides, trucks loaded with Mongolian coal needed to wait 2-3 days before allowed to unload at border crossings, according to a Chinese trader.

The trader said Mongolian material that declared clearance at Ceke border crossing in mid-July has not been allowed into China, resulting in a supply shortfall in the market.

How long the situation will last remains unclear. There are market talks that Ganqimaodu border crossing plans to control coal imports at around 15 million tonnes in 2017, but the current figures have exceeded 12 million tonnes, calling for tough control on imports of Mongolian coal.

This event is one the of Mongolia's keystone events, and attracts close to 1,000 delegates representing Government, key industry players, financial institutions, global investors and media to discuss socio-political and economic developments. Guests with very diversified background from nearly 30 countries attended 2016 Invest Mongolia events in Ulaanbaatar and Tokyo. In 2017, key focuses of the conference will be the following:

· The impact of the IMF program and whether the Government will take investor friendly measures to increase FDI

· The overview of Mongolian Economy including updates on legal, accounting and other regulatory changes

· The progress and its impacts of OT underground and other major projects to the economy

· The strong demand to coal and the beneficiaries of the industry

· The most updated situation of Green financing and their players

· The Mongolian Banking Industry and the Bank Strategies at the time when AQR is in place

· The development of the non-mining sectors including the real estate

· Whether foreign money is coming back to Mongolia? If so, which sectors are promising and why?

· The outlook of the Bond Market and the possible measures to increase the credit rating

· Whether the Amendments of the Constitution are necessary for the accountability, the consistency of the policies and to combat the corruption? 

MBD registrants will enjoy a 15% discount on badges, which gives you access to the networking lunches and dinners and reserved priority seating. The general registration to the conference is free. Please go http://www.frontier-conference.com/…/…/58-registeronlineform to register and be sure to enter the promo code 102 to the Discount Coupon section if you are purchasing a badge to apply your discount.
If you would like to receive more information regarding the event, please contact the organizers http://www.frontier-conference.com/index.php/en/zoo.