We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Friday, 26 June 20
WHAT TODAY'S BAILOUTS CAN DO FOR TOMORROW'S ECONOMIES - WORLD ECONOMIC FORUM
-
The COVID-19 crisis provides an opportunity for governments to build fairer, more sustainable and more resilient economies.
-
Governments are leveraging bailouts to encourage more responsible business practices, save jobs, address inequality and climate change, and build long-term resilience.
-
The next wave of rescue measures should go further in implementing bold, forward-looking reforms.
Last year, the World Economic Forum’s annual Global Competitiveness Report assessed 141 governments’ future-readiness and found that most rated poorly on this and other crucial long-term indicators.
Yet now that the pandemic-induced lockdown is wreaking havoc on the global economy and exposing the inadequacies of many institutions, an era of bigger – and perhaps bolder – government has arrived.
Already, an estimated $9 trillion has been pumped into the global economy to support households, stem job losses and keep businesses afloat. Now that some countries are beginning to emerge from lockdowns, their leaders have a unique opportunity to reshape the economy to provide better, greener and more equitable outcomes for all.
The crisis offers an opportunity for what the World Economic Forum has deemed the “Great Reset,” starting not at some point in the distant future but right now. Building on the lessons learned during the 2008 financial crisis and its aftermath, many governments are attaching a range of meaningful conditions to bailouts and other rescue measures. The short-term assistance being provided today can and should be leveraged to encourage more responsible business practices, save jobs, address inequality and climate change, and build long-term resilience against future shocks.
For example, owing to concerns about rising inequality and pressures on public budgets, France, Denmark and Poland have denied government support to companies with headquarters in tax havens outside of Europe. And the United Kingdom has banned dividend payments and restricted bonuses in companies accessing its loan scheme.
Governments are also attempting to safeguard jobs by providing incentives for companies to maintain employment levels. US companies accessing Coronavirus Aid, Relief and Economic Security Act funds must maintain at least 90% of their pre-pandemic employment levels until September 30. Japan has applied similar conditions in extending its employee-retention assistance to both small and medium-size enterprises and large corporations. And Russia has introduced wage subsidies for companies that retain at least 90% of their workforce. Meanwhile, Italy is implementing a temporary blanket ban on dismissals, not limited to companies accessing government funds. While it remains to be seen whether these temporary restrictions will be effective at maintaining employment after they are lifted, they are providing a cushion – and a “fighting chance” – to workers in the midst of this unprecedented crisis and ahead of a future recovery.
Even in deeply distressed sectors, rescue measures are being designed to emphasize social and environmental responsibility and encourage more long-term thinking. For example, now that the airline industry is facing a demand shock as a result of global travel restrictions, its pre-crisis business practices have come under scrutiny.
Over the past decade, the largest airlines in the United States spent 96% of their free cash flow on share buybacks, nearly double the rate of other S&P 500 companies. Now, cash-strapped airlines wishing to access governments funds must not only cease stock buybacks and dividend payments until the end of 2021; they must also agree not to use involuntary furloughs or reduce pay rates until September 30. Likewise, the French government has attached “green strings” to its €7 billion ($7.9 billion) bailout of Air France-KLM, requiring the airline to commit to halving its carbon dioxide emissions (per passenger and per kilometer), relative to their 2005 level, by 2030.
These instances of embedding long-term thinking into short-term measures are clearly steps in the right direction. But, given the sheer scale of fiscal support being provided and rising concerns about inequality, climate change, unemployment and public debt, the next wave of recovery measures should go even further.
Here, the European Commission’s Next Generation EU crisis fund should be taken as a model for others to follow. With €750 billion ($845 billion) in grants and loans, it promises to usher in a fair and inclusive recovery by accelerating the transition to a green digital economy. Its basic conditions would help European countries shift away from declining heavy industries while supporting vulnerable workers. But whether all EU member states will get on board remains to be seen.
The pandemic has thrust governments into a more proactive role than anyone would have imagined just a few months ago. As we move beyond the immediate health crisis, policymakers must seize the opportunity to implement bold, forward-looking reforms. That includes redesigning social contracts, providing adequate safety nets, cultivating the skills and jobs that the future economy will need, and improving the distribution of risk and return between the public, the state and the private sector.
But while governments must assume a leadership role, shaping the recovery and charting a new course for growth will require greater collaboration between businesses, public and government institutions and workers. For the Great Reset to succeed, all stakeholders must have a hand in it.
By now, it should be obvious that we cannot go back to a system that benefited the few at the expense of the many. Forced to manage short-term pressures and confront long-term uncertainties at the same time, leaders find themselves at a historic crossroads. Governments’ new clout gives them the means to start building fairer, more sustainable and more resilient economies.
Source:World Economic Forum
Written by
Saadia Zahidi, Managing Director, World Economic Forum
This article is published in collaboration with Project Syndicate. The views expressed in this article are those of the author alone and not the World Economic Forum.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Sunday, 14 June 20
INDONESIAN COAL WAS STILL IN DEMAND; A 52,000-DWT SUPRAMAX FIXING DELIVERY CJK FOR A ROUND VOYAGE VIA INDONESIA AT $6,250 - BALTIC BRIEFING
Capesize
The Capesize market made new highs for the year this week after strong iron ore demand to the far east continued to develop in the mar ...
Friday, 12 June 20
CHINA CURBS COAL IMPORTS AFTER 5 MONTHS OF RECORD INFLOWS - SOURCES: REUTERS
China has stepped up customs checks for coal imports, leading to lengthy processing delays at ports, four sources familiar with the matter said, as ...
Friday, 12 June 20
COAL INDIA LIMITED SET FOR MARKETING DRIVE TO CREATE DEMAND - FINANCIAL EXPRESS
State-run miner Coal India (CIL), which is primarily focused on supplying coal to the power sector, is now reorienting its marketing to create dema ...
Friday, 12 June 20
MOODY'S REVISES BRENT OIL PRICE OUTLOOK TO $35/BARREL IN 2020 - TASS
Low oil prices are likely to exert the highest pressure on Iraq, Oman and Kuwait due to the limited space for the fiscal policy pursuit and higher ...
Thursday, 11 June 20
JAN-MAY, INDONESIA SHIPPED 175.15 MILLION TONS OF COAL TO ITS OVERSEAS BUYERS
Indonesia's coal production for the first 5 months of this year have reached 228 million tons. January – May 2020, Indonesia shipped US$ ...
|
|
|
Showing 911 to 915 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Economic Council, Georgia
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- The University of Queensland
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
|
| |
| |
|
