The Japanese telecommunications company, Snapdeal's top shareholder, has been holding talks with Flipkart investors Microsoft, eBay and Tencent Holdings. Looking to own 20% of the combined entity, SoftBank plans to put in more money via its massive joint investment fund.

Flipkart and Snapdeal, which entered the Indian e-commerce market in 2007 and 2010, had maintained a duopoly until Amazon stormed into the country in 2013. Snapdeal dropped to third place.

SoftBank sank $627 million into Snapdeal's parent company under a deal announced in 2014 and has since ratcheted up its investment. The Japanese company hopes that integrating Snapdeal with Flipkart will give Amazon stiffer competition.

Cash has been the dominant payment method in India. But last November's demonetization of 500 rupee and 1,000 rupee ($7.76 and $15.52) notes -- more than 80% of the paper money then in circulation in value terms -- helped e-commerce make significant strides.

The nation's online retail market swelled from $3.8 billion in 2009 to $23 billion in 2015, data from the Japan External Trade Organization shows. It is expected to surpass $100 billion in 2020.

SoftBank Chairman and CEO Masayoshi Son told Prime Minister Narendra Modi in 2014 that the company would invest $10 billion in India over the following decade. In addition to Snapdeal, SoftBank has also invested in OYO Rooms, which operates a service for booking budget hotels, and the operator of the Ola ride-hailing app.

Present at the press conference to brief journalists were D.Davaasuren, Chief of the Head commission, D.Bayanduuren, Deputy Chief and members N.Ankhbayar and L.Bazarsad.

Out of 7209 registered overseas voters for the 2017 Presidential election, 4816 partook in the election, successfully organized by 45 sub-commissions set up in 33 countries on June 10-11. Voter turnout was 44.6 percent at 2PM on Ulaanbaatar time on June 11.

In the 2013 Presidential election, out of 6233 Mongolian nationals that were registered, 4248 people voted.

According to preliminary Chinese customs data released last week, the country imported 22.2 million tonnes of coal (both thermal and met coal) in May. Volumes were down 10.5% from April, but still up 16.6% year on year. Total import for the first five months of 2017 jumped 30% compared to the same period last year to 111.7 million tonnes.

The steelmaking raw material is now trading more than $160 a tonne below its mid-April peak when the price of Australia free-on-board premium hard coking coal jumped to highest since the second quarter of 2011.

That price spike was also the result of flooding in Queensland that saw quarterly contract prices negotiated at an all time high of $330.

The wild swings in the price of coking coal is forcing a rethink of the industry's long-standing quarterly contract pricing system. In its monthly review, The Steel Index says Japanese steel mills are considering using the monthly average of daily coking coal spot prices and are also looking to diversify their coking coal supply sources:

Buyers have looked to other coking coal basins to cover their needs, with Mozambique and the US likely to be the biggest beneficiaries. Mozambique is currently on track to increase its annual coking coal production levels to 8 million tonnes, a 100% increase on 2016.
A survey of economist and investment bank analysts by FocusEconomics show prices are expected to stabilize through to the end of the year.

The median forecast is for met coal to average $152 per tonne in Q4 2017 and $134 during the final quarter next year. Coking coal averaged $121 a tonne in 2016 recovering from a slump to below $80 a tonne in February last year.

Iron ore's decline – down 42% from its February peak – took a breather on Monday. The Northern China import price of 62% Fe content ore added 1% to $54.40 a tonne according to data supplied by The Steel Index.