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Friday, 17 April 20
PANDEMIC TO BRING ASIA'S 2020 GROWTH TO HALT FOR 1ST TIME IN 60 YEARS - IMF: REUTERS
 Asia’s economic growth this year will grind to a halt for the first time in 60 years, as the coronavirus crisis takes an “unprecedented” toll on the region’s service sector and major export destinations, the International Monetary Fund said.
Policymakers must offer targeted support to households and firms hardest-hit by travel bans, social distancing policies and other measures aimed at containing the pandemic, said Changyong Rhee, director of the IMF’s Asia and Pacific Department.
“These are highly uncertain and challenging times for the global economy. The Asia-Pacific region is no exception. The impact of the coronavirus on the region will be severe, across the board, and unprecedented,” he told a virtual news briefing conducted with live webcast.
“This is not a time for business as usual. Asian countries need to use all policy instruments in their toolkits.”
Asia’s economy is likely to suffer zero growth this year for the first time in 60 years, the IMF said in a report on the Asia-Pacific region released on Thursday.
While Asia is set to fare better than other regions suffering economic contractions, the projection is worse than the 4.7% average growth rates throughout the global financial crisis, and the 1.3% increase during the Asian financial crisis in the late 1990s, the IMF said.
The IMF expects a 7.6% expansion in Asian economic growth next year on the assumption that containment policies succeed, but added the outlook was highly uncertain.
Unlike the global financial crisis triggered by the 2008 collapse of Lehman Brothers, the pandemic was directly hitting the region’s service sector by forcing households to stay home and shops to shut down, the IMF said.
The region’s export powerhouses were also taking a battering from slumping demand for their goods by key trading partners such as the United States and European countries, it said.
China’s economy is expected to grow by 1.2% this year, down from 6% growth in the IMF’s January forecast, on weak exports and losses in domestic activity due to social distancing steps.
The world’s second-largest economy is expected to see a rebound in activity later this year, with growth to bounce back to 9.2% next year, the IMF said.
But there were risks even to China’s growth outlook as the virus could return and delay normalization, the IMF said.
“Chinese policymakers have reacted very strongly to the outbreak of the crisis … If the situation becomes aggravated, they have more room to use fiscal, monetary policies,” Rhee said. “Whether that would be needed will really depend on progress in containing the virus.”
Asian policymakers must offer targeted support to households and firms hit hardest by the pandemic, the IMF said, calling also for efforts to provide ample liquidity to markets and ease financial stress faced by small and midsize firms.
Rhee warned that direct cash transfers to citizens, part of the U.S. stimulus package, may not be the best policy for many Asian countries which should focus on preventing small firms from going under to stop a sharp increase in unemployment.
Emerging economies in the region should tap bilateral and multilateral swap lines, seek financial support from multilateral institutions, and use capital controls as needed to battle any disruptive capital outflows caused by the pandemic, the IMF said.
Source: Reuters (By Leika Kihara)
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Friday, 05 January 24
BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES - REUTERS
Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power s ...
Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
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- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Australian Coal Association
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- White Energy Company Limited
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
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