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.
|
|
Friday, 07 August 20
PEABODY'S $1.42 BILLION WRITE-DOWN CONCEDES COAL MINES HAVE LITTLE VALUE AND DIM FUTURE - IEEFA
Trouble at biggest mine in Powder River Basin speaks volumes about state of industry
Peabody Energy, the world’s largest priva ...
Thursday, 06 August 20
SUPRAMAX MARKET CONTINUED SIDEWAYS TREND, AND LITTLE INSPIRING NEWS APPEAR - FEARNLEYS
Capesize
There is presently a small correction in rates, but overall levels are up from previous week mainly due to increased demand in the Eas ...
Thursday, 06 August 20
KOREA SOUTH-EAST POWER INVITING BIDS FOR MIN 3,600-MAX 3,800 NCV COAL
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) inviting bids for 80,000 Tons (MT) Min 3,600~Max 3,800 kcal/kg NCV coal f ...
Wednesday, 05 August 20
NO NEW MINING LICENSES - A REMINDER TO GOVERNORS IN INDONESIA - SSEK
Indonesia’s acting Director General of Mining and Coal (“DGMC”) has issued a letter to the country’s provincial Governors t ...
Wednesday, 05 August 20
AUGUST 2020 HBA HITTING ITS LOWEST LEVELS IN HISTORY
COALspot.com: The Indonesia Coal Price Reference for the month of August plunged 30.73% YoY, hitting its lowest levels in history and highlighting ...
|
|
|
Showing 841 to 845 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- White Energy Company Limited
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Australian Coal Association
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
|
| |
| |
|
