Commercial bank transfer charges found to be illegal
December 25 (news.mn) Commercial banks filed suit against a report by auditors from the Authority for Fair Competition and Consumer Protection revealing that commercial banks violated the law by charging fees for transfers.
The District Administrative Primary Court reviewed the appeal by commercial banks and determined that commercial banks did indeed violate the law through the fees that were identified by the auditors.
The court says that charging the customers of commercial banks for transfers is illegal.
Civil Auditors of Authority for Fair Competition and Consumer Protection revealed several violations of the law during its inspections of commercial banks in Mongolia, and has imposed fines on commercial banks and insisted that banks repay the fees that were illegal charged to customers.
Foreign Minister L.Purevsuren Meets Ambassadors of US,
Korea and Turkey to Mongolia and Assistant Foreign Minister of China
December 25 (infomongolia.com) These days, the recently appointed Minister for Foreign Affairs of Mongolia, Mr. Lundeg PUREVSUREN held meetings with Ambassadors of the United States of America and the Republic of Korea to Mongolia as well as visiting Assistant Minister of Foreign Affairs of the People’s Republic of China.
On December 23, 2014, Foreign Minister L.Purevsuren received the Ambassador Extraordinary and Plenipotentiary of the United States to Mongolia, Mrs. Piper Anne Wind Campbell at her request, where sides talked about issues concerning the current development and further aspiration of bilateral relations and cooperation, and agreed to organize recurrent consultative meeting between the Foreign Ministries of Mongolia and USA as well as meeting of United States-Mongolia Council on Trade and Investment within the first quarter of 2015.
On December 24, 2014, Foreign Minister L.Purevsuren held a meeting with Assistant Minister of Foreign Affairs of the PR of China, Mr. Liu Jianchao, who visits Ulaanbaatar to co-chair the First Strategic Dialogue at the Deputy Foreign Ministers-level between the two Governments. During the meeting, sides exchanged views on current Mongolia-China relations and cooperation as well as further measures to be carried out in the future.
On December 25, 2014, Foreign Minister L.Purevsuren received the Ambassador Extraordinary and Plenipotentiary of the Republic of Korea to Mongolia, Mr. Lee Tae-ro and during the meeting sides exchanged views on measures to be organized in the scope of celebration the 25th anniversary of the establishment of diplomatic ties marks in 2015. Moreover, parties agreed to organize the First Intergovernmental Joint Committee Meeting in the near future.
On December 25, 2014, Foreign Minister L.Purevsuren received the Ambassador Extraordinary and Plenipotentiary of the Republic of Turkey, Mr. Murat Karagoz and during the meeting, Foreign Minister expressed his satisfaction on successfully implementing high-level reciprocal visits and cultural events in the frameworks of celebrating the 45th anniversary of the establishment of diplomatic ties marks in 2014.
FM meets Ambassador of Turkey – Montsame, December 25
FM receives US ambassador – Montsame, December 25
Finance Regulatory Committee head freed
By B. Khuder
Ulaanbaatar, December 25 (MONTSAME) At its plenary meeting on Thursday, the parliamentary session discussed matters on discharging the incumbent head and members of the Finance Regulatory Committee (FRC) and appointing new ones.
Proposals and conclusions on the issue made by the Standing committees on justice and on economy were presented by Kh.Temuujin and B.Garamgaibaatar MPs who said that a majority of these committees had backed requests of the FRC’s head D.Bayarsaikhan and of the members B.Lhagvasuren and B.Batbayar to resign from their posts. By this reason, the plenary meeting supported a candidature of Z.Narantuya for the post of the FRC’s head, offered by the Speaker in accordance with a law on legal status of the FRC.
B.Garamgaibaatar also said the Standing committee on economy had backed Kh.Bum-Erdene and E.Batbold to become the members of the FRC, and J.Tsedenragchaa and D.Ganbat--the non-staff members. The new members are nominated from the Standing committees on justice and on economy, whereas the non-staff members--from the Ministry of Finance and the Bank of Mongolia. Eventually, a majority at the plenary meeting backed the requests of the FRC’s head, its members and non-staffers to resign, expressed their views and opinions on the matter, and decided to continue the discussion after a break.
A candidate Z.Narantuya graduated from the State University of Irkutsk in 1991 majoring in law and the Institute of Finance and Economics of Mongolia in 1999, becoming an economist. In 1995, she achieved a master degree in law at the State University of Irkutsk (1995) and a master degree in international economics in the Columbia University in the City of New York (2005). Since 2012, Narantuya has worked as an advisor to the Speaker on economic policy.
Z.Narantuya becomes FRC head
By B. Khuder
Ulaanbaatar, December 25 (MONTSAME) At its afternoon meeting after the break, parliament continued a discussion of appointing a new head of the Finance Regulatory Committee (FRC) and its new members.
A 89.9% majority backed Z.Narantuya to become the head of the committee. Moreover, Kh.Bum-Erdene and E.Batbold were appointed the members of the FRC, and D.Ganbat and J.Tsedenragchaa became non-staff members. By doing so, parliament adopted a draft resolution of parliament on freeing and appointing new head and members of the FRC.
Mongolia-France diplomatic relations anniversary will be marked
By B. Amarsaikhan
Ulaanbaatar, December 25 (MONTSAME) A committee in charge of organization of the 50th anniversary of this event ran its first meeting December 25 at the Ministry of Foreign Affairs.
The relations with France have been intensified in the recent years as a result of a great significance given by Mongolia to the development of such ties with France, our "Third neighbor".
Present at the meeting, chaired by the FM L.Purevsuren, were N.Battsereg MP, a head of Mongolia-France inter-parliamentary friendship group, B.Boldbaatar, a state secretary of the Ministry of Foreign Affairs, and representatives of the Ministries of Industry, of Defense, of Construction and Urban Development, of Education Culture and Sciences, and of Finance, as well of the Academy of Sciences and Mongolia-France friendship community.
New heads of Standing committees appointed
By B. Khuder
Ulaanbaatar, December 25 (MONTSAME) This matter was discussed by the plenary meeting of the parliamentary session on Thursday. A majority of MPs resolved, J.Enkhbayar has been appointed the head of the Standing committee on foreign policy and security, Su.Batbold--of environment, food and agriculture; A.Bakei--of state structure; B.Bolor--of budget; J.Batsuuri--of economy, and D.Battsogt--of social policy, education and sciences.
A new head of the Standing committee on petitions has not been appointed yet.
MSSF names Best of 2014
By B. Amarsaikhan
Ulaanbaatar, December 25 (MONTSAME) Mongolia's Shooting Sports Federation has named the Hero of Labour, State Honored Athlete and Olympic silver medalist O.Gundegmaa as the best shooter, moreover, her trainer L.Undralbat has become the best coach of 2014.
Ms Gundegmaa grabbed this year a bronze medal at the Asian Games, a gold and two bronze medals at the World Cup series. Our shooters satisfied over 40 medals from international competitions in 2014.
Book published about Mongolian historic monuments in Turkey
By B. Amarsaikhan
Ulaanbaatar, December 25 (MONTSAME) A "Turkish landmarks and monuments related to the Great Mongol Empire and Ilkhanate" book by the Embassy of Mongolia to Turkey has been published in Ankara.
The authors are the Mongolians--a doctorate at the Ankara University D.Ankhbayar, and B.Batkhishig Ph.D. Photographs are taken by D.Nyamdavaa. This book compiles 175 photographs of chapels, religious schools, hospitals, bridges, hotels and fortresses in Turkey that had been erected under the orders of Mongolian Khans and Queens, and of their tombs and statues, with written descriptions and explanations. These historic monuments are encountered in many Turkish cities such as Sivas, Amasya, Erzurum, Ahlat, Mardin, Aksaray and Ankara.
There are four tombs of Mongolian aristocrats in Ahlat on the shore of Van Lake, that prove a hundred years of Mongolian administration over that territory around 13-14 centuries. The book also displays a map of military bases of Great Mongol armies in Turkey and provides great deal of historic evidences about Lord Jumudar (Ilder), a grandson of the founder of Ilkhanate Khulegu Khaan, whose tomb is kept in the Museum of Amasya.
Stock Exchange news for December 25
By B. Khuder
Ulaanbaatar, December 25 (MONTSAME) At the Stock Exchange trades on Thursday, a total of 8,089 thousand units of nine JSCs were traded costing MNT 11 million 484 thousand and 123.
"Khokh gan” /5,824 units/, “APU” /2,000 units/, “Material impex” /202 units/, “Baganuur” /16 units/ and "Talkh chikher” /15 units/ were the most actively traded in terms of trading volume, in terms of trading value were "APU” (MNT seven million 507 thousand and 928), "Material impex” (MNT three million 009 thousand and 800), “Khokh gan” (MNT 553 thousand and 435), “Talkh chikher” (MNT 277 thousand and 500) and "Gobi” (MNT 56 thousand and 160).
The total market capitalization was set at MNT one trillion 420 billion 570 million 478 thousand and 853. The Index of Top-20 JSCs was 14,659.47, decreasing 26.74 units or 0.18% against the previous day.Link to article