Monday, April 14, 2014

Mongolia Brief April 14, 2014 Part II



Premier works in Tov aimag
Ulaanbaatar, April 14 (MONTSAME) On Monday, the Prime Minister N.Altankhuyag participated in a training-discussion of governors of bagas /smallest administrative unit in localities/ in Sergelen soum, Tov province.

Apart of the Premier, this action brought together baga governors of all aimags. After this, the PM N.Altankhuyag got acquainted with construction works running in the aimag's center and Sergelen soums. This aimag is erecting apartments with 1,000 flats, a garment factory and cinema.


Mr Thura Shwe Mann legs GEC
Ulaanbaatar, April 14 (MONTSAME) Having an official visit, the Speaker of the Burmese House of Representatives Thura Shwe Mann Monday visited the General Election Commission (GEC) for getting au fait with the organization’s activities.
The GEC chairman Mr Ch.Sodnomtseren thanked the Burmese Speaker for legging the GEC, and briefed about the organization’s functions and actions.
The GEC is a permanent state organization, and its main function is to organize elections of the State Great Khural (parliament), the President and nationwide referendum, and the actions run independently based on a principle of joint management, Mr Sodnomtseren said. The organization provides the administrative units with professional and methodological management for carrying out elections of the Citizens’ Representative Khural, he added. He also spoke about structure of the GEC, and made an introduction of an automatic system in the elections.
Taking inquiries about the election system of Mongolia, Mr Mann said one of the GEC’s features is running the election for both parliament and President, and highlighted the automatic system has managed to make the Mongolian election system easier.
After getting familiarized with the automatic system of election, Mr Mann and accompanied him delegates inserted ballot papers into the machine for testing.      


Khan Bank awarded “Product Excellence in Payment Innovation”
Ulaanbaatar, April 14 (MONTSAME) Commercial Khan Bank reported Monday it has been awarded for its continued efforts in bringing innovative banking products and services to the Mongolian market at the Retail Bank International Asia Trailblazer Awards 2014.
Retail Bank International experts and analysts remarked that Khan Bank pioneered a number of pioneering products and services which make banking services easier and quicker.
To highlight only three of these new services which the bank has introduced, the bank said it launched the latest transactional technology Contactless Card which completes non-cash payments in just a few seconds, Khan Bank’s Smart Phone Banking which gives customers a superior online banking service providing access and a seamless viewing experience across the widest range of popular devices, as well as the Bancassurance service in its 524 branches across the country.
In its fifth year, the Trailblazer Awards, organized by Timetric, reflected critical banking standards across a range of categories including service excellence, strategy excellence, product excellence, channel excellence and process excellence. Leading banks, including ICICI Bank, India, Citibank Philippines, Standard Chartered Bank Singapore, Security Bank Philippines and Central Bank India were selected as winners.


Stock exchange news for April 14
Ulaanbaatar, April 14 (MONTSAME) At the Stock Exchange trades held Monday, a total of 93 thousand and 139 shares of 26 JSCs were traded costing MNT 50 million 531 thousand and 414.60.
"Hermes center" /80 thousand units/, "APU” /4,205 units/, "Genco tour bureau” /2,375 units/, "Bayalag nalaikh” /1,288 units/ and "Remikon” /1,000 units/ were the most actively traded in terms of trading volume, in terms of trading value--"APU" (MNT 15 million 774 thousand and 910), "Hermes center" (MNT 12 million), "Sharyn gol" (MNT four million 827 and 200), "Tavantolgoi" (MNT four million 213 thousand and 280) and "Shivee ovoo" (MNT two million and 528 thousand).
The total market capitalization was set at MNT one trillion 586 billion 230 million 788 thousand and 201. The Index of Top-20 JSCs was 15,686.11, decreasing by MNT 123.59 or 0.78% against the previous day.


Khan Bank Olympiad winners announced
Ulaanbaatar, April 14 (MONTSAME) Olympiad named after commercial Khan Bank for banking and finance among senior undergraduate students has been concluded, and winners have received prizes.
The 3rd Khan Bank Olympiad ran from March 24 to April 11 with participation of 95 students from 12 state-run and private universities.
In the individual contest, students from the School of Economic Studies at the Mongolian State University (MSU) and Institute of Finance and Economics won the first three places and they received a cup and an invitation to work at the bank.
In the team contest, the second team of the Mongolian State University of Education was announced as the Best Risk Management Team while the second team of the School of Economic Studies--as the Best Stock Price Team and both team were rewarded with a Cup and a cash prize of MNT one million.


Province will build recreation center
Ulaanbaatar, April 14 (MONTSAME) Bulgan province will have a new a recreation center dedicated its youths in this year.
It will be erected with a capital from the local funds for development and environment, and the construction works already have commenced. This is a part of the "New Bulgan" action programme of the aimag's governor, which started last year. The province's governor D.Erdenebat witnessed a process of the constructions on last Friday. Some parts of the constructions are being done by the Darkhan-Uul aimag-based "Tsagaan zuun" company.
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