July 24, 2018
S P O N S O R 

MPs and Cabinet working on flood relief measures   


Member of Parliament and Deputy Head of the National State Emergency Commission (NSEC) N. Enkhbold visited Bornuur soum, Tuv Province to monitor the implementation of flood relief and clean-up orders issued by the NSEC on July 19. Army soldiers have been clearing debris from public spaces in Bornuur soum. The soum's kindergarten, school, and local administration office were hit hard by flooding. The NSEC will review submitted estimates for the damage from local authorities and provide compensation for damages. According to preliminary reports, the total cost of damages is expected to be high. MP N. Enkhbold stated that Cabinet will discuss disbursing flood relief funds at the end of July, after compiling data about impacted areas.

Keywords: emergency management, flooding   Today /page A2/


Mongol Post sees a 50 percent increase in profits in 2018


In the first half of 2018, Mongol Post JSC earned revenue of 7.79 billion MNT, with net profits amounting to 906.7 million MNT. The company saw a year-on-year  increase in revenue of 1.89 billion MNT (32.1 percent), while net profits went up by 303.1 million MNT (50 percent) compared to the same period in 2017. Mongol Post reduced its production costs by approximately two percent and earned 50.9 million MNT from rental income and 402.3 million MNT from interest.     

Keywords: stock market, postal service   The Official Gazette /page 5/

Bank of Mongolia reports on gold purchases in 2018


As of July 20, Bank of Mongolia has purchased 8.3 tons of gold, representing an increase of 14 percent compared to July 2017. Bank of Mongolia sets the price of gold on a daily basis, in accordance with prices from the London Metal Exchange. On July 23, the Bank of Mongolia’s purchase price for gold was 97,090 MNT per gram. In the global market, gold sold for 1,231 USD per ounce on July 23. The central bank bought six tons of gold in 2013, 15.1 tons in 2015, and 20 tons in 2017.  

Keywords: gold, Mongol Bank      Today /page 1/

online story  

IAAC submits a grievance to the State Structure Standing Committee


On July 23, the Independent Authority Against Corruption (IAAC) filed a complaint with Parliament's State Structure Standing Committee (SSSC) regarding claims made against the agency. A petition against the agency was filed by a group of Members of Parliament, including MP L. Oyun-Erdene, on July 10. The IAAC has stated that there are no legal grounds to accuse the agency of burying criminal cases, complaints, or information, and that the state's prosecutors and courts exercise the right to resolve criminal cases in line with the Constitution of Mongolia. The IAAC asked the SSSC to review the situation and hold the MPs who submitted the petition accountable for making false claims.

Keywords: Independent Authority Against Corruption, Parliament

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