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http://zgm.mn/post/5693/

MPP retains parliament majority as candidates spit votes

MPP retains parliament majority as candidates spit votes

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http://zgm.mn/post/5693/
  • There are many candidates who could not gain clear majority support but elected as a parliament member
  • The MPP’s victory was only based on its general competence in running government affairs and handling of COVID-19. But if Khurelsukh’s government had been overthrown in a conspiracy, they would have chosen differently

The Mongolian people have made their choice! The result proved that “No matter how smart you are, you will get a mandate from the people, not yourself or your friends.” The people saw that Mongolia was full of intelligent people. “Without me, the country would be ruined!” I saw your contest of words of wisdom. The brains of nomadic Mongolians cannot accept the flood of paper, electronic, and television news. Twenty-one days of campaigns are not less but too much. I am tired and concluded already. Imagine what would happen if 606 people shouted different sentences at the same time, (originally the total candidates were 606, and some source said 639. There is no way to know the exact number!) it is what happened. This is how nomadic, naive, gullible, and prideful Mongolians make their choices for peace. They do not demand political revenge, grievances, justice, and accountability. Their justice is non-comparable. It’s not absolute, not consistent, and is adaptable. TV debates, political party promises, platforms, and slogans are not the thing they focus on. They don’t worry about the 60 billion, SMEs scandal, Concession, Gray list, Blacklist, and USD 30 billion debt. Did you not see it? For them, it is not important what the government has promised in 2016 and how it has worked. The MPP’s victory was only based on its general competence in running government affairs and handling of COVID-19. But if Khurelsukh’s government had been overthrown in a conspiracy, they would have chosen differently. Democratic Party (DP) members speak about the construction, the work they started, and so on. The DP conflicts with one another while running the government. When the DP’s internal struggles and conspiracies always happen before the people’s eyes, leading the voters to vote for the Mongolian People’s Party (MPP) out of desperation and fear. As far as I know, this is the only reason for the results of the 2000 and 2016 parliamentary elections. The MPP, on the other hand, would hide its quarrels, afraid of its leader, and follow a vertical system. The DP, on the contrary, fights for power. This is the main difference. This time, it became clear that these two parties were not driven by the idea of harming the country, and were not the party of the ruiner. One is close to victory and the other is to be defeated. The people had a wide choice; to choose three out of thirty or forty people. A total of 64 candidates, the highest, competed for five seats in the Bayanzurkh district. In Songinokhairkhan, 50 people competed for five seats, in Sukhbaatar 38 people, in Bayangol 36 people, in Chingeltei 33 people, and in Khan-Uul 30 people competed for three seats respectively. It did not necessarily require a 50+1 percent victory. Very wide selection. There are still many candidates who could not gain clear majority support but elected as a parliament member. Wasn’t there an opportunity? This is the people’s choice, but there is no other way but to accept it until 2024, even if the results are unbelievable. I wanted to tell the Mongolian saying, “The sky is far above and the ground is hard,” to the defeated 530 men (assuming they are on their knees out of 606). The fact that someone won fourth seats in a three-mandate constituency and third in two-mandate constituencies does not prove that the candidates will win the election in 2024. If your party ranks after the MPP and DP, it is also a false indicator. Stop fooling yourself! Approve the results of the parliamentary elections and disperse now! Thinking of the title of “Honored Politician” to distribute you, but can’t hand out “530 yellow badges”, just give up your ambition and macho personality! Stay calm until 2024! Be patient! Let’s talk again about political intellectuals. Everywhere you look, educated people and youth. Where to absorb them will soon become a national security issue. The number of intellectuals will continue to grow. I am concerned that many of these intellectuals, who are tired of being unemployed, have become the main driving force of social instability, and that our society has become a landmine. This is the main risk to national security. Currently, the only places that attract educated people and educated youths are political parties and patriotic civic movements (but without pay!). This was shown many times by the regular parliamentary elections. In the coming days, people will see how the intellectuals are dying for the 76 seats, how much power they have accumulated, how much money they have spent (poor money!). And how much they are mourning on their knees. Eventually, the publishing companies made billions of money. Congratulations to the publishing companies and TV stations. Now they have enough money to support many people during the pandemic. 

To be continued

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TDB and UBC bank consolidated

  • The Trade and Development Bank and Ulaanbaatar City Bank, both have over 20 years of experience in the market, have combined operations on June 29. It can be called a historic event

All assets, liabilities, equities, and branches of Ulaanbaatar City Bank (UBCB) will be consolidated into the Trade and Development Bank (TDB), taking effect from June 29th, the TDB announced on Monday. TDB will further serve all UBCB clients; Bank of Mongolia approved the consolidation on June 23, 2020. Ulaanbaatar City Bank, named after the capital of the country, has been operating successfully for 21 years since 1999, professionally and swiftly providing comprehensive banking and financial services to its customers. The bank has been proudly making the list of the TOP-100 enterprises, announced by the MNCCI every year, as well as is one of the six systemically important banks in the banking system, as defined by the Bank of Mongolia. Strengthened human resources, expanded customer base, and adequacy of bank branches significantly contribute to achieving our strategic goal of closely serving our customers, TDB said in an announcement. 

Mr. Orkhon Onon, Chief Executive of Trade and Development Bank talked about further operations on the merge of the banks. 

-Two influential banks have officially consolidated in the banking system. Could you provide the related information on this?

-About Trade and Development Bank (TDB) and Ulaanbaatar City Bank, both have over 20 years of experience in the market and they have combined operations on June 29. It can be named a historic event. In accordance with the permission issued by the Bank of Mongolia (BoM) on June 23, 2020, all assets of Ulaanbaatar City Bank together with the branch and settlement center have been merged with the Trade and Development Bank.

-More interestingly, the two merged banks both have a potent and authoritative status in the banking system.

-Of course, that is why I called this event momentous. In the past period, such a large corporation has never appeared in the banking system. Both two banks have large scales. Additionally, defined by the Bank of Mongolia, two systemically important banks with more than 5 percent of the banking sector have joined on a voluntary basis. It is the very first combination of TDB.

-How will customers feel about this merging process and what is the further plan?

-Presumably, TDB’s primary capital is customers and we have arranged and prepared all procedures for customers to accept this change in the easiest and clearest way. In other words, all clients and partners will be customers of the Trade and Development Bank from June 29 without touching the services and conditions of Ulaanbaatar City Bank. As a result of the influential bank combination in the banking system, the Trade and Development Bank has expanded to 400 employees, 33 branches and settlement centers, and more than 1,900 merchandising organizations. This activity is beneficial for both sides as well.

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Members of new parliament officially receive ID cards

Newly elected parliamentary members were handed over ID cards on June 29 in the government house of Mongolia. Moreover, in line with the General Election Commission’s (GEC) statement, no discrepancies have been reported in the 164 polling stations. Following the June 24 polls, a census was carried out in 846 polling stations or 42 percent of the 2,070 polling stations nationwide. This is mainly driven by parties, coalitions, and candidates who have filed complaints with the President and the General Election Commission regarding the results of the 2020 parliamentary elections. In accordance with the President’s obligations to the General Election Commission, an additional manual census was conducted in the five provinces and five district polling stations mentioned in the requirement. These include 22nd-23rd constituencies of Bayanzurkh district, Chingeltei, Sukhbaatar, Songinokhairkhan, and Khan-Uul districts, as well as the first constituency of Arkhangai province, the 7th constituency of Dornod province, the 10th district of Uvurkhangai province, the 11th district of Umnugovi province also, the 19th district of Darkhan-Uul province.

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Rio Tinto reaches agreement on domestic power supply with Mongolia for OT

  • Rio Tinto will amend its current power supply agreement with the Mongolian government by March 2021
  • TRQ’s share price has been heavily volatile amid the successes and struggles at OT, last year rising significantly on positive developments

Rio Tinto Ltd had reached an agreement with Mongolia to domestically supply power to its Oyu Tolgoi copper-gold mine through a state-owned coal-fired power plant at Tavan Tolgoi, the company reported on Monday. The Government of Mongolia owns 34 percent in the Oyu Tolgoi project, while Rio Tinto’s majority-owned Turquoise Hill Resources (TRQ) has a 66 percent stake in the project. The mining giant said in a state ment it will amend its current power supply agreement with the Mongolian government by March 2021, under which the government will begin construction of the coal-fired power plant by July 2021. The plant, being built to supply power to the Oyu Tolgoi project, is expected to be commissioned within the next four years. Until the commissioning of the state-owned plant, power supply to the mine and the underground project will continue under the current terms. In March, Rio had flagged slowing down operations at the Mongolian mine due to coronavirus restrictions. Mongolia and Oyu Tolgoi LLC reached an agreement on the State-owned power plant, Turquoise Hill Resources and Rio Tinto announced Sunday, affirming the April decision by the Mongolian cabinet over the power supply for the mine. Mongolia will fund and construct the power plant at Tavan Tolgoi, while the existing power source agreement was amended. The power plant will deliver “reliable” power for open-pit operations and project development Turquoise Hill Resources said. TRQ’s share price has been heavily volatile around the successes and struggles at Oyu Tolgoi, last year rising significantly on positive developments while plummeting by nearly half just months later. OT currently uses imported power and both the Government of Mongolia and Oyu Tolgoi have committed to extending the current arrangement to ensure continued stable power is supplied to the mine and underground project until the State-Owned Power Plant is commissioned and is able to supply stable, reliable and continuous power. Arnaud Soirat, Copper and Diamonds chief executive of Rio Tinto Ltd, said, “This agreement provides a potential pathway to securing a domestic power supply for the Oyu Tolgoi mine and underground project for the benefit of all shareholders and the wider community. We look forward to working with the Government of Mongolia to progress the solution.

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Manual census conducted in 127 polling stations across Ulaanbaatar

In accordance with the requirements of some parties, coalitions and independents nominated for the 2020 Parliamentary elections, and the official letter delivered by the President of Mongolia to the General Election Commission (GEC), and the Capital City Election Commission is reviewing the ballots in some polling stations. The recount took place on June 27-28. Head of the Public Administration Department, Governor’s Office in Ulaanbaatar City, and Chairman of the Capital City Election Committee Mr. Ganbold informed about the census. He said, “In Nalaikh, Baganuur and Bagakhangai districts, a total of 26 polling stations were set up, and 13 polling stations were inspected and the count reached 50 percent. In Bayanzurkh district’s 22nd constituency, a total of 47 polling stations were operated and 11 polling stations were counted. We are conducting a census. ”Ulaanbaatar has a total of nine constituency committees and 451 polling stations. On June 24, the auditorial manual count carried out in 102 polling stations. This is 23 percent of all ward committees. On June 27-28, a control census has been conducted in 127 polling stations in the capital city. Members of the district and polling station committees that organized the election were compiled preliminary reports at the Districts’ Election Commission.