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