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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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Thursday, 05 April 18
INDONESIA TO POSTPONE NEW COAL, PALM OIL SHIPPING RULES TO 2020 - REUTERS
Indonesia will delay until 2020 trade rules requiring exporters of coal and crude palm oil to use only Indonesian-flagged vessels, government offic ...
Tuesday, 03 April 18
MARKET ANALYSIS - GEORGE LAZARIDIS
In the midst of a relatively quiet week for markets, with disruptions being caused by the Christian holidays, it seems as though we find ourselves ...
Monday, 02 April 18
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT, SAYS VISTAAR
The freight market softening to continue. Thursday, March 29, 2018, the Baltic Dry Index decreased by 42 points, reaching 1080 points.
T ...
Monday, 02 April 18
THIESS TO DELIVER $150M SENAKIN CONTRACT EXTENSION
Thiess has secured a $150 million contract extension to provide mine services at Arutmin’s Senakin coal mine in South Kalimantan, Indonesia.
...
Monday, 02 April 18
THIESS SECURES $240M SATUI EXTENSION
The successful implementation of an innovative mining plan by Thiess at the Satui coal mine in South Kalimantan, has resulted in a $240 million con ...
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- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- VISA Power Limited - India
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- White Energy Company Limited
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- The University of Queensland
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Economic Council, Georgia
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
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