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