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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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Saturday, 28 December 19
SUPRAMAX: A 63,000DWT VESSEL, OPEN CIGADING, FIXED A TRIP VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $8,500 - BALTIC BRIEFING
Capesize
The Capesize market this past week has been attempting to recalibrate itself in consideration of weakening freight levels and increasing ...
Saturday, 28 December 19
CHINESE INDUSTRIAL CITY TO FURTHER CUT COAL CONSUMPTION - XINHUA
Harbin, capital city of Heilongjiang Province in China’s northeastern industrial heartland, is planning to further reduce its coal consumptio ...
Friday, 27 December 19
MISERY LOOMS OVER TOP COAL SHIPPERS AS CHINA TO BUY LESS IN 2020 BLOOMBERG
China isn’t cutting back on consumption of the most-polluting fossil fuel just yet, but it is set to reduce imports.
The world ...
Thursday, 26 December 19
REVIEW OF 2019 AND OUTLOOK FOR 2020 - OPEC
Global economic growth slowed in 2019, impacted by a variety of challenges. Trade issues not only led to reduction in global final consumption but ...
Wednesday, 25 December 19
COVER FOR WAR AND TERRORISM RISKS, AND COVER IN RESPECT OF BIOLOGICAL AND BIO-CHEMICAL WEAPONS - 2020 POLICY YEAR: AMERICAN CLUB
KNOWLEDGE TO ELEVATE
This Circular describes the arrangements which have been made to provide special cover for war and terrorism risks, and c ...
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Showing 1221 to 1225 news of total 6871 |
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- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Planning Commission, India
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Thiess Contractors Indonesia
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