Mongolia gets new prime minister who pledged to address economic demands of protesters
Lawmakers approved former parliament speaker Zandanshatar Gombojav as Prime Minister by an overwhelming majority in a vote late Thursday night.
His election appeared to mark the end of several weeks of political uncertainty in a still-young democracy of 3.4 million people that is sandwiched between much larger China and Russia. The new leader faces multiple challenges including high inflation, a looming government budget deficit and fears of power shortages this winter.
Speaking ahead of the vote in parliament, Mr. Zandanshatar said this year's government spending needs to be reduced by about $640 million to avoid a significant revenue shortfall.
'Revision of the budget has become inevitable,' the former banker said, saying he would submit a revised budget to parliament next week.
Mr. Zandanshatar, 45, studied economics at university in Russia and was vice director of one of the largest commercial banks in Mongolia.
He was parliament speaker from 2020 to 2024 and was named head of the president's office after he lost his seat in an election last year. From 2014-16, he was a visiting scholar at Stanford University in California.
His predecessor, Oyun-Erdene Luvsannamsrai, resigned 10 days ago after losing a vote of confidence in parliament.
The protests against Oyun-Erdene's rule were sparked by reports of lavish spending by his son. Many Mongolians feel the nation's mineral wealth has benefited politicians and their business friends rather than the general population. The poverty rate remains high in the sparsely populated country.
Mr. Zandanshatar said he would ensure that economic growth is inclusive and reached all Mongolians. He promised to launch a tax reform to reduce the burden on the middle class and increase taxes on luxury consumption and those with ultra-high incomes.
He won election by a vote of 108 to 9 in the 126-member parliament. The other nine members were absent.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
2 days ago
- Time of India
Is Elon Musk an illegal immigrant? Exploring the complicated history of the billionaire's arrival to the United States
Donald Trump and Elon Musk's feud heated up again this week, with the billionaire sharply criticizing Trump's 'Big Beautiful Bill', and Trump escalating his own threats against him in response. While Elon Musk has attempted to damage Trump's reputation by openly talking about how he financed the 47th President's reelection, as well as accusing him of having ties to Jeffrey Epstein, Trump himself has threatened to crack down on Elon Musk's Government subsidies. One of Musk's potential weaknesses that's been brought up by pro-Trump influencers such as Steve Bannon is Elon's somewhat sketchy immigration history. Originally from South Africa, Elon Musk engaged in questionable decision-making during his immigration, as he'd applied for a student visa in 1995, but decided to start a company instead of enrolling at Stanford University like he was supposed to. The Washington Post reported that Elon Musk violated his student visa terms 2 of the worst people you know are fighting again🍿...Steve Bannon on Elon Musk: "Musk is a parasitic illegal immigrant. He wants to impose his freak experiments and play-act as God without any respect for the country's history, values, or traditions.' On October 2024, the Washington Post came out with an investigative report regarding Elon Musk's immigration to the United States. The paper reported that Elon Musk had originally entered the United States on a student visa granted for the sake of his enrollment to Stanford University. However, Musk never actually attended Stanford University, instead choosing to become an entrepreneur by founding the internet company Zip2. In response to the Washington Post's reporting, as well as criticism from then-president Joe Biden, Elon Musk accused the paper of misrepresenting the truth. Per Elon, he originally immigrated to the United States on a J-1 student exchange visa but eventually transitioned into the H1-B temporary work visa. Musk would eventually become a fully naturalized citizen of the United States in 2002. Musk's immigration status remains a gray area BREAKING:Investigation confirms Elon Musk and brother Kimbal were ILLEGAL dropped out of school while on student visas, and began working without permits. Given that Musk never enrolled at Stanford despite being required to do so per the terms of his student visa, his detractors, both among Donald Trump's supporters and opposition, have called on immigration authorities to investigate and possibly deport him. Elon Musk was an avid supporter of Donald Trump during his 2024 campaign despite being well aware of the latter's harsh rhetoric on immigration. With the two men using whatever leverage they can against each other in the wake of their falling out, time will tell how Elon's immigration history will eventually fit into the picture.
India.com
4 days ago
- India.com
What's common between Sam Altman, the ChatGPT founder and Sundar Pichai, the man behind Google's success? Both went to...
Sam Altman and Sundar Pichai- PTI image Sam Altman vs Sundar Pichai: Two of the most popular names that are often taken with high respect in the technology world today are Open AI CEO Sam Altman and Google CEO Sundar Pichai. Both Sam Altman and Google CEO Sundar Pichai have earned fame in the technology world for their respective innovations in the technology world. While Sam Altman built a chatbot named ChatGPT, Sundar Pichai built a browser that reached almost every phone and laptop named Google Chrome. However, do you know that both the tech leaders share a common point in their academic lives. What's common between Sam Altman and Sundar Pichai? As per media reports, both Sam Altman and Sundar Pichai attended Stanford University, a key commonality in their careers. For those unversed, commonly referred to as Stanford University, is a private research university in Stanford, California, United States. The university is also known as the Hogwarts of Silicon Valley, is famous for producing technology stalwarts. Who are Sam Altman and Sundar Pichai? Sam Altman is a Stanford dropout who went on to co-found Y Combinator and later become the CEO of OpenAI, a company that transformed the Artificial Intelligence world with the launch of ChatGPT. On the other hand, Sundar Pichai belongs from a modest family of Chennai, India. He earned advanced degrees (MS and MBA) after studying engineering. Sundar progressed through Google—from leading Chrome's development to becoming CEO of Google and eventually Alphabet. OpenAI continues to be overseen and controlled by nonprofit: Sam Altman Sam Altman-run OpenAI will continue to be overseen and controlled by the nonprofit and its 'for profit LLC' will transition to a public benefit corporation (PBC), giving the nonprofit better resources to support several benefits, the company has announced. OpenAI was founded as a nonprofit, and is today overseen and controlled by that nonprofit. 'Going forward, it will continue to be overseen and controlled by that nonprofit. Our for-profit LLC, which has been under the nonprofit since 2019, will transition to a Public Benefit Corporation (PBC)–a purpose-driven company structure that has to consider the interests of both shareholders and the mission,' the ChatGPT maker said in a statement. (With inputs from agencies)
Business Standard
6 days ago
- Business Standard
Ahmedabad University Emerges as a Leading Alternative to Studying Abroad
NewsVoir Ahmedabad (Gujarat) [India], June 27: As global uncertainties increasingly affect student plans to study overseas, including visa delays, shifting immigration policies, and rising costs, Ahmedabad University is emerging as a strong and credible alternative for those seeking a globally benchmarked education closer to home. Ahmedabad University offers students the opportunity to learn from world-class faculty, many of whom hold doctoral degrees from some of the world's top universities such as Stanford University, the University of Cambridge, Yale University, the Massachusetts Institute of Technology (MIT), the University of Chicago, University College London (UCL), and the University of Pennsylvania. These scholars bring international academic training and research experience into classrooms designed for deep engagement and critical thinking. Professor Pankaj Chandra, Vice Chancellor of Ahmedabad University, said, "At Ahmedabad University, we are reimagining the idea of a modern Indian university. We offer global standards of education while being deeply anchored in local relevance. Our faculty, curriculum, and student experience are designed to cultivate thoughtful, ethical, and intellectually ambitious individuals. In a time when families are re-evaluating the value and feasibility of overseas education, we offer a compelling and future-ready alternative right here in India." The University's undergraduate journey begins with its distinctive Foundation Programme. This eighteen-week interdisciplinary core introduces all incoming students to complex, real-world challenges such as climate change, democracy, public health, and urban transformation. Designed to build the habits of citizenship and inquiry, the Foundation Programme sets the tone for a rigorous academic path. Ahmedabad University allows undergraduate students the flexibility to design their own academic journeys. They can choose from a wide array of 26 majors across disciplines such as engineering, life sciences, economics, computer science, history, psychology, management, and entrepreneurship. Students are encouraged to explore widely while gaining deep disciplinary knowledge, enabling them to address challenges that span fields and sectors. The University has also pioneered The BxMx Programme, a dual degree pathway which allows students to earn a combined Bachelor's and Master's degree in five years. At the graduate level, Ahmedabad University offers a strong portfolio of research-intensive and professionally oriented master's programmes. The MTech in Composites is India's first such programme and trains engineers in advanced materials for sectors such as aerospace, automotive, and renewable energy. The University also offers an MTech in Microelectronics and Semiconductors, aligned with the country's ambitions in the semiconductor sector. The MBA is designed as an interdisciplinary management degree with a strong focus on experiential learning and real-world problem solving. The MS in Quantitative Finance equips students with expertise in risk analytics, algorithmic trading, and financial modelling. The MS in Economics offers rigorous training in economic theory, quantitative methods, and data science, preparing students for careers in public policy, development, consulting, and academia. Ahmedabad University also offers India's only Master of Management Studies in Heritage Management, a unique programme for students and professionals aiming to work in cultural institutions, heritage conservation, and sustainable tourism. Located on a green, 158-acre campus in the heart of the city, Ahmedabad University offers a vibrant and inclusive student life. Twenty two active student-led clubs provide opportunities to explore interests ranging from entrepreneurship and heritage to astronomy and fine arts. A strong focus on innovation and entrepreneurship is fostered through VentureStudio, the University's startup incubator established in 2011 in collaboration with the Stanford University's Centre for Design Research. The campus's extensive cultural infrastructure and event calendar enrich the student experience. High-quality sporting facilities, including a multi-sport arena, tennis and basketball courts, and indoor spaces, support both recreational and competitive play. Food is also an essential part of life at the University, with diverse dining options including cafes and curated culinary experiences that reflect both local and global cuisines. In 2025, Ahmedabad University was named Leadership and Management Team of the Year at the Times Higher Education Awards Asia, the top honour among over 500 entries from 16 countries and territories. The judges praised the University's bold and imaginative transformation into a leading player in India's research and innovation landscape. Admissions are currently open for undergraduate and postgraduate programmes for the 2025 intake. The University offers generous merit- and need-based scholarships to support a diverse cohort of students. Prospective applicants can learn more and apply here. Ahmedabad University is a leading private, non-profit research university offering students a liberal education focused on interdisciplinary learning, practice orientation, and research thinking. The University has been - Recognised by the Government of Gujarat as a Centre of Excellence. - Accredited with 'A' grade by the National Assessment and Accreditation Council (NAAC). - Awarded Leadership and Management Team of the Year at the Times Higher Education Awards Asia 2025. - Awarded a 5-star rating, the highest awarded in the Gujarat State Institutional Rating Framework (GSIRF) for 2021-22 and 2023-24, by the Knowledge Consortium of Gujarat (KCG), Department of Education, Government of Gujarat. - Awarded the Royal Institute of British Architects (RIBA) International Award for Excellence 2024 for our University Centre. - Awarded a 'Platinum Rating' by the Indian Green Building Council for sustainability and green practices. - Recognised by the UGC under Section 12(B) of the UGC Act, becoming one of the very few private research universities to have been awarded this recognition for select research universities. - Recognised as a Highly Commended University for Teaching and Learning Strategy of the Year in the Times Higher Education (THE) Awards Asia 2023. - Awarded the AACSB's Innovations That Inspire Award 2023 for its Foundation Programme. - Awarded Gold Rating by the Indian Green Building Council for achieving the Green Building Standards at our University Centre. The University, established in 2009, is rooted in the vision of one of India's finest educational foundations, the Ahmedabad Education Society, which was founded in 1935 by nationalist leaders. Programmes at the University range from bachelors to doctoral levels in humanities and social sciences, natural sciences, engineering, and management through its 13 Schools and Centres: Amrut Mody School of Management | Bagchi School of Public Health | School of Arts and Sciences | School of Engineering and Applied Science | Ahmedabad Design Lab | Centre for Heritage Management | Centre for Inter-Asian Research | Centre for Learning Futures | Global Centre for Environment and Energy | International Centre for Space and Cosmology | Sahyog: Centre for Promoting Health | The Climate Institute | VentureStudio An urban university, Ahmedabad promotes independent-mindedness and diversity across all dimensions of its activity and helps students mature into critical thinkers who are analytically equipped, practically oriented, and contextually aware global citizens. The University provides a contemporary educational framework that brings liberal arts, sciences, and the professions to engage together in creating new knowledge for addressing complex challenges of the society and in offering majors that merge the boundaries of disciplines to prepare students for the new economy.
