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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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- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
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