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.
|
|
Saturday, 17 July 21
COAL PRICES TRADE AT DECADE HIGH OF $140 PER TONNE, HERE ARE SOME FACTORS AT PLAY: CNBC-TV18
Coal prices are trading at $140 per tonne. In the last one week, coal has seen more than 8 percent gains; the last one month has seen 24 percent ju ...
Thursday, 15 July 21
U.S. FOSSIL FUEL CONSUMPTION FELL BY 9% IN 2020, THE LOWEST LEVEL IN NEARLY 30 YEARS - EIA
U.S. fossil fuel consumption fell by 9% in 2020, the lowest level in nearly 30 years
In 2020, total consumption of fossil fuels in t ...
Thursday, 15 July 21
IN 2020, U.S. COAL PRODUCTION FELL TO ITS LOWEST LEVEL SINCE 1965 - EIA
U.S. coal production totaled 535 million short tons (MMst) in 2020, a 24% decrease from the 706 MMst mined in 2019 and the lowest level of coal pro ...
Wednesday, 14 July 21
MARKET INSIGHT - INTERMODAL
In its latest Global Economic Prospects report, the world bank recorded the strongest post-recession global growth in 80 years, but emerging and de ...
Tuesday, 13 July 21
JAPAN STILL SEEKING TO EXPLOIT COAL POWER LOOPHOLES - IEEFA
JBIC wants to continue burdening developing nations with its expensive coal-fired power technology
Japan is continuing to push its expensive c ...
|
|
|
Showing 521 to 525 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- VISA Power Limited - India
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Planning Commission, India
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Australian Coal Association
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- White Energy Company Limited
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
|
| |
| |
|
