The State Great Khural adopts budget law of 2010 and it was presented to the President of Mongolia on December 4 2009.

President Elbegdorj put veto on it. He explains that “… the issue of allocation of 1 billion MNT for each electoral district of 76 MPs collided with the fundamental principles of the Constitution of Mongolia. He expressed his disfavor as quoting “… old and ill habit of the past, converted into different shape and covered with illusionary skin but with same purpose, was repeated.”

The Financial Regulation Bureau approved a procedure to prevent money washing, investing terrorism, knowing the customers and informing suspicious cash transfers. The bureau worked together with Mongolbank on the procedure which orders financial organizations, insurance companies and bond organizations to inform the higher financial organizations before making a money transfer of MNT 20 million or above. Furthermore, the suspicious transfers can be postponed. Suspicious transfers would mean the source of the money and receiver is not clear. In order to do so, money transferring citizens and organizations must give detailed information, including name, home address and phone numbers.

Over 80% of “Ulaanbaatar Railway” locomotives are old.

During the Prime Minister’s visit to Ulaanbaatar Railway, its Chairman Otgondemberel.B reported that over 80% of its locomotives are old. It requires immediate upgrade in locomotive fleet. Its stakeholders, Mongolian and Russian Government, made decision to increase its capital by $250 million. If it will be solved, it can upgrade its locomotive fleet park.

Russian state-owned mining firm ARMZ Uranium Holding Company wants to acquire at least two-thirds of Canadian rival Khan Resources Incorporated, Russian news agencies reported on Monday. 

After 20 years since democratic system was implemented in Mongolia, citizens speak about the achievements of the Democratic Revolution.