IMF says Asia facing risks from rise in protectionism www.reuters.com

The International Monetary Fund said Asia's economic outlook faces "significant" uncertainty and downside growth risks from any sudden tightening in global financial conditions or rise in protectionist trade policies.

The IMF, which in April raised its 2017 Asia-Pacific growth forecast to 5.5 percent from its previous October forecast of 5.4 percent, said loose monetary and fiscal policies across most of the region would underpin domestic demand.

"However, the near-term outlook is clouded with significant uncertainty, and risks, on balance, remain slanted to the downside," the IMF said in its Asia-Pacific regional economic outlook released on Tuesday.

In April, the IMF kept the region's 2018 growth forecast unchanged at 5.4 percent. Asia-Pacific recorded 5.3 percent growth in 2016.

The report comes at a time when policymakers around the region are wrestling with the challenge of how to navigate rising risks of protectionism under U.S. President Donald Trump, and a potential increase in funding costs as the Federal Reserve steps up the pace of rate hikes.

Continued tightening of global financial conditions could trigger volatility in capital flows, and the region could see large spillovers if China's shift to a more consumption-driven economy proves bumpier than expected, the IMF said.

"A possible shift toward protectionism in major trading partners also represents a substantial risk to the region. Asia is particularly vulnerable to a decline in global trade because the region has a high trade openness ratio, with significant participation in global supply chains," it said.

The IMF said exchange rate flexibility should remain the "main shock absorber" against a sudden tightening in global financial conditions or shift toward protectionism.

It added, however, that "judicious" foreign exchange intervention might be called for in certain cases, such as when disorderly market conditions or rapid exchange rate movements threaten financial or corporate stability.

The IMF emphasized that foreign exchange intervention should not be used to resist currency moves that reflect changes in fundamentals including in the global trade environment or as a substitute for macroeconomic policy adjustments.

"Adapting to aging could be especially challenging for Asia, as populations living at relatively low per capita income levels in many parts of the region are rapidly becoming old," it said.

The IMF said monetary policy should generally remain accommodative in the region since inflation is below target and there is slack in most Asian economies.

If growth weakens further, some regional central banks such as those in Malaysia and Thailand, may have room to cut interest rates as long as external stability is not compromised, while others in India, Indonesia, and Vietnam should be ready to raise interest rates if inflationary pressures strengthen, the IMF said.

(Reporting by Masayuki Kitano; Editing by Shri Navaratnam)

MCC targets to improve water supply and sanitation of Ulaanbaatar www.montsame.mn

Ulaanbaatar /MONTSAME/ On May 8, Mayor of Ulaanbaatar S.Batbold received Ms. Fatema Z. Sumar, the Regional Deputy Vice President of the Millennium Challenge Corporation’s /MCC/ who is paying a working visit to Mongolia on May 8 to 9.

Copper price: Plunge in China imports wipes out 2017 gains www.mining.com

In February copper hit a 21-month high on the back of optimism that Donald Trump's $500 billion-plus infrastructure plan would add fuel to the fire of Chinese economic stimulus already working its way through commodity markets.

Coking coal price slumps again www.mining.com

The price of coking coal plunged again on Monday with the industry benchmark price tracked by the Steel Index dropping 6% or $12.40 to $199.40 a tonne as the impact of supply disruption following tropical storms in Australia appears to have been less than previously thought.

Mongolia to strengthen ties with Vietnam www.montsame.mn

Three candidates to run for President election 2017 www.gogo.mn

The president of Mongolia is elected for a four-year term nationwide since 1992, using the two-round system. 
On June 26, the 7th presidential election will be held in Mongolia. Current President Ts.Elbegdorj will not be running for re-election as he has been president for two terms. The President can be re-elected only one time.
Powers of the President:
Nominate a candidate for the office of Prime Minister, who is then approved or rejected by the State Great Khural (parliament). 
Veto the Khural's legislation (can be overridden with a two-thirds majority).
Approve judicial appointments.
Appoint the Chief Judge of the Supreme Court of Mongolia. 
Chair the national security council.
Act as commander in chief of the armed forces.
Nominate the Prosecutor General, the official in charge of implementing the laws, who is then approved or rejected by the Khural.
According to the Law on Elections, three political parties seated in Parliament are eligible to nominate a candidate for the Presidential Election 2017; the Mongolian People's Party (MPP), the Democratic Party (DP) and the Mongolian People's Revolutionary Party (MPRP). In regards, three parties have officially announced their presidential candidates on May 6. 
Candidates to run in the election will receive candidacy certificates on May 27. Election campaigns will be commenced from June 6 to June 25. Mongolian citizens living abroad will vote at relevant embassies and consulates on June 10 and 11.

M.ENKHBOLD, A PRESIDENTIAL CANDIDATE OF MPP

On May 3, MPP, which holds 65 out of 76 seats in Parliament, selected its candidate for the Presidential election at its members` meeting. Speaker of the Parliament M.Enkhbold won over Deputy Speaker of the Parliament Ts.Nyamdorj, collecting a majority or 85.7 percent of votes from the members and officially announced as a candidate to represent MPP in the Presidential election. 
M.Enkhbold was born on 19 July 1964. He is currently the chairman of the Parliament of Mongolia, the State Great Khural. In 2016, when the MPP gained control of parliament, he was elected as chairman of the State Great Khural. Enkhbold is married and has two children. 
Education:
In 1982, he graduated from the 1st secondary school of Ulaanbaatar, 
In 1987, he graduated the National University of Mongolia as planner-economists, 
In 1996, he earned diploma in Japan in Public management and organizational issues,
In 1998, he earned diploma in Germany in Local self-governing bodies,
In 2000, he earned Master degree in economy,
In 2002, he became member of International academy of information science, UNICEF,
In 2003, he earned Doctoral degree from South Korea in state authority, 
 In 2006, he earned Doctoral degree from Orkhon university.
Employment:
From 1987-1989, he worked as an economist with the Services Office of the Executive Authority of the Assembly of People's Deputies of Ulaanbaatar.
From 1989-1991, he worked as a specialist to the Department of Planning and Service Mechanics of the Public Services Ministry. 
From 1991-1992, he worked as head of the municipal Services Office of the Executive Authority of the Assembly of People's Deputies of Ulaanbaatar.
From 1992-1996, he worked as Deputy Governor of the Chingeltei District of Ulaanbaatar. 
From 1996-1998, he worked as Chairman of the Presidium of the Chingeltei Districts Khural of Citizens Representatives.
From 1999-2005, he elected as Mayor of Ulaanbaatar city. 
Since 2005, he is serving as MP. 
From 2006-2007, he appointed as Prime Minister of Mongolia. 
From 2007-2012, he appointed as Deputy Minister of Mongolia. 
From 2012-2016, he appointed as Deputy Chairman of State Great Khural. 
From 2016, he is working as Chairman of State Great Khural. 
Political positions:
In 1990, he joined MPP,
In 1991-1992, he selected as a chairman of city 214th MPP slot, 
In 1992-1997, he selected as a head of MPP committee in Chingeltei District,
In 1997-2006, he selected as a head of MPP committee,
In 2005-2007, he became a chairman of MPP, 
 In 2007-2012, he became a secretary of MPP, 
 In 2013, he became a chairman of MPP.

KH.BATTULGA, A PRESIDENTIAL CANDIDATE OF DP

DP, which holds 10 seats in Parliament, selected its presidential candidate through votes from all members of the party nationwide. Member of Parliament L.Bold, former Prime Minister R.Amarjargal, former Minister of Justice and Internal Affairs D.Dorligjav, former Prime Minister N.Altankhuyag, former Agriculture Minister Kh.Battulga, and former Minister of Industry B.Jargalsaikhan have registered to run for the party’s nomination. 
Kh.Battulga collected 2740 votes from the DP members in nationwide and officially announced as a candidate to run for the upcoming president election representing DP. He is followed by former Prime Minister R.Amarjargal with 2374 votes.
Education:
In 1978, he graduated from the 34th secondary school of Ulaanbaatar, 
In 1982, he graduated Fine arts high school as a painter. 
Employment:
From 1979 - 1990, he was an athlete for Sambo national team,
From 1982 - 1990, he worked as a painter at Fine arts organization, 
From 1990 - 2004. he worked as a general director of "Genco" LLC, 
From 1997 - 2004, he worked as CEO of Bayangol hotel JSC, 
From 1999 - 2004, he worked as CEO of Mah Impex JSC, 
From 2004 - 2008, he elected as MP, 
 From 2008 - 2012, he appointed as Minister of Road, Transportation, Construction and Urban Development, 
 From 2008 - 2012, he elected as MP, 
From 2012 -2016, he elected as MP, 
 From 2012 -2014, he worked as Minister of Industry and Agriculture, 
From 2016, he is working as an anchorman for "Mongol tulgatnii 100 erhem" and chairman of the Mongolian Democratic Union.

N.ENKHBAYAR, A PRESIDENTIAL CANDIDATE OF MPRP

A presidential candidate to represent the MPRP, which holds one out of 76 seats in Parliament, was the center of attention. 
Six members of the party nominated themselves for the presidential candidate and N.Enkhbayar, former President of Mongolia officially announced as the MPRP’s candidate for the Presidential election 2017. He is the first person to have held all of the top three positions in Mongolian government - Prime Minister, Speaker of the Parliament, and President of Mongolia. 
N.Enkhbayar was born on 1 June 1958 in Ulaanbaatar city, Mongolia. He is married to O.Tsolmon in 1987 and they have four children.
Education:
In 1975, he finished 23rd secondary school,
In 1980, he earned an undergraduate degree majoring in literature and language studies from Maxim Gorky Literature Institute in Moscow, Russia,
In 1986, he completed English language and literature course at Leeds University in the United Kingdom. 
Political positions:
In 1985 he joined MPRP. 
From 1992-1996, he elected to the State Great Khural and was appointed to serve as the country's Minister of Culture.
From 1996-1997, became the secretary general of the MPRP.
From 1997-2005, elected as the chairman of the MPRP.
From 2000-2004, he served as the Prime Minister of Mongolia. 
From 2004-2005, he worked as Speaker of the Parliament.
From 2005-2009, he elected as President of Mongolia. 
In 2011, he became the chairman of re-established MPRP while old members of MPRP established MPP. 
The Independent Authority Against Corruption (IAAC) arrested Enkhbayar on 13 April 2012. The IAAC stated that it arrested Enkhbayar for questioning in a graft case involving the illegal privatization of a government-owned hotel because he never showed up for questioning eleven times over a year during the investigation, thus it was forced to arrest him.
On 2 August 2012, after a three-day trial Sukhbaatar District Court convicted Enkhbayar of corruption and sentenced to seven years of imprisonment, three of which was pardoned and then gave four years prison term and fined with over MNT 1.7 billion for misusing state properties and government power. Enkhbayar's sentence was reduced to two and a half year prison term without the fine by the Supreme Court of Mongolia-the highest court in Mongolia for graft and embezzlement. However, Enkhbayar spent less than a month in prison and spent the rest of his prison term as a patient at the Second General Hospital. 
On 1 August 2013, President of Mongolia Ts.Elbegdorj issued a decree to pardon Enkhbayar thus releasing him from the rest of his jail term effective on the decree date.

Vietnam sacks top official for PetroVietnam 'violation' www.bbc.com

A top Vietnamese official has been sacked for "violations" while running national oil and gas firm PetroVietnam, in a rare public censure by the ruling Communist Party.
The government said on Sunday that Dinh La Thang, 57, was no longer part of the top decision-making Politburo.
Mr Thang's alleged misconduct was first leaked on social media last year.
His sacking comes amid a wider crackdown on PetroVietnam, the country's largest enterprise.
It is extremely uncommon for a Politburo member to lose their place in the one-party state. Since Vietnam started economic reforms in 1986, only two other Politburo members have been dismissed.
'Serious violations'
Mr Thang is said to have committed the violations between 2009 and 2011 while he was chairman of PetroVietnam.
Last September, writer Huy Duc attacked Mr Thang on Facebook with articles accusing the politician of being responsible for a recent huge loss at PetroVietnam.
Although Huy Duc's articles, which seemed to be based on leaked documents, polarised public opinion on the internet, the issues he raised were not reported in state media.
In late April, the Central Inspection Committee, the top watchdog of the party, suddenly announced it had investigated and held Mr Thang responsible for "serious" violations at PetroVietnam.
The party's inspectors accused Mr Thang of allowing PetroVietnam to make loans to the local Ocean Bank that caused "serious losses" to the company.
They also said Mr Thang had advised the prime minister "to designate many bidding packages that failed to meet legal regulations".

On Sunday, a government statement said more than 90% of the party's central committee had voted to remove Mr Thang.
It said he had committed "serious violations in his leadership, command and staff works", which "hurt the Party's reputation" and caused "a loss of confidence" among people and party members.
Rising star
Mr Thang, a former transport minister, became a member of the new Politburo at the party congress last year and was made the party's chief of Ho Chi Minh City, the country's largest city and commercial hub formerly known as Saigon.
The party is expected to soon name a new party chief for the city, a position always held by a Politburo member.
He was catapulted into political stardom for being unusually outspoken among normally reticent officials, and was known for his forthright rhetoric on state media.
His fall from grace follows other arrests at PetroVietnam and linked companies.
Another former PetroVietnam chairman was arrested in 2015 and later expelled from the Communist Party. Three other senior executives are also facing possible sanctions.
Last year four senior employees at a construction subsidiary of the firm were prosecuted for mismanagement that allegedly cost the company $150m (£116m).
Communist Party chief Nguyen Phu Trong, who is effectively the most powerful man in Vietnam, is serving his second term. He has launched an anti-corruption campaign and has issued resolutions aimed at improving ethical conduct among party members.

Critics claim that the recent high-profile arrests and trials are mainly the result of political infighting.
However, Mr Trong's supporters say he is seriously concerned about systemic corruption and wants to do more to combat the problem.
Vietnam is ranked 113 out of 176 on Transparency International's corruption index.

Corrupt banker jailed www.news.mn

The former vice president of the Mongolian State Bank has been sentenced with 5.1 years in prison for corruption. The decision was made by three District Courts in the Mongolian capital, Ulaanbaatar, namely: Bayanzurkh, Chingeltei and Sukhbaatar. T.Dorjderem was convicted with receiving MNT 25 million bribes from the director of ‘Durvulj’ LLC for granting MNT 800 million credit. L.Altansukh, the director of ‘Durvulj’ LLC, will be fined the minimum wage increased by 51 times for offerring bribes.

Russia blocks China's biggest messaging app www.cnn.com

China's most popular messaging app has been blocked in Russia.
Moscow's communications regulator has added WeChat to its list of prohibited websites, according to Russian state news agency TASS.
The messaging app ran afoul of laws requiring companies that distribute information online to register with government authorities in Russia.
Operated by tech giant Tencent (TCEHY), WeChat has about 900 million monthly active users, the vast majority of whom are in China.
Tencent said in a statement Monday that it's "in discussions with relevant authorities regarding the situation" in Russia. WeChat has been blacklisted since at least Friday, according to the TASS report.

First high-speed rail in Inner Mongolia starts test run www.xinhuanet.com

HOHHOT, May 8 (Xinhua) -- The first high-speed railway in north China's Inner Mongolia Autonomous Region started test runs on Sunday to prepare for the beginning of regular use by the end of July.
The high-speed train ran at a speed of 250 to 275 km per hour on a section from Ulanqab to Hohhot, capital of the region, during Sunday's trial, according to Hohhot Railway Bureau.
The section in Inner Mongolia is part of the high-speed railway that links Hohhot to Zhangjiakou in Hebei Province, the co-host city of the 2022 Olympic Winter Games. When it is operational by the end of July, the travel time between Ulanqab and Hohhot will be shortened to 35 minutes from the current one hour.
The 286.8 km-long Zhangjiakou-Hohhot high-speed rail, with a designed speed of 250 km per hour, will be a major high-speed rail in north China upon completion.
It is expected to be completed and put into service in 2018. At that time, the Zhangjiakou-Hohhot high-speed rail will be connected to the Beijing-Zhangjiakou high-speed rail, which is under construction. The travel time from Hohhot to Beijing will be reduced from the average nine hours to within three hours.