Australian government analysis warns that reliance on Indian coal imports poses ‘significant risk’

first_img FacebookTwitterLinkedInEmailPrint分享The Guardian:Thermal coal exporters face “significant risk” that demand from India will decline, a report by the Australian office of the chief economist says. It also warned of long-term uncertainties in the market considered a “great hope” by miners.The report, released on Friday, came as the resources minister, Matt Canavan, prepared to visit India to promote the Australian resources sector. He argued India has an “astonishing” appetite for Australian thermal coal that could support “three to four new Adani-sized coalmines.” But those comments appeared at odds with the conclusions of the government’s economic advisers: that while India and southeast Asia were seen by the resources industry as a “bright light” that could help sustain Australian thermal coalminers as industrialised nations pivot away from fossil fuels, the outlook in India was “finely balanced and uncertain.”“While India is one of the great hopes for thermal coal exporters, alongside southeast Asia, it also presents significant risk,” the first paragraph of the report said. “If India’s thermal coal imports decline, there could be substantial implications for seaborne markets.”The argument being pushed by advocates of the thermal coal sector, that growth in these new markets could support new mines – or a new coal basin – ignores the more dramatic shifts away from coal in developed economies, analysts said.Tim Buckley, the director of energy finance studies at the Institute for Energy Economics and Financial Analysis, said: “The hope was that India and southeast Asia might provide something of a cushion [for the thermal coal industry] on the way down. But this isn’t a gentle slide to oblivion.”Buckley said solar power in India was three times cheaper than the assumptions used in the chief economist’s report, based on outdated IEA predictions. “They’re underestimating the importance of low-cost renewable energy,” he said. “Growth of thermal coal demand in India is financially challenged by the fact renewable energy is 30% cheaper, so what bank in their right mind would finance a new coal-fired power plant?”More: Australian thermal coal exporters warned of falling demand from India Australian government analysis warns that reliance on Indian coal imports poses ‘significant risk’last_img read more

Could a Messi departure unlock Barcelona rebuilding project?

first_imgMarketing losses But the business of football is never as straightforward as that. “At 854 million euros, Barca have the highest turnover among the biggest European clubs,” said Gay de Liebana. “The main core of their income comes from marketing [381 million euros] and TV rights [298 million euros] so it’s clear that the departure of Leo Messi will negatively affect Barca’s figures.” Without Messi, Gay de Liebana believes that Barca’s sponsorship contracts, including deals worth 55 million per year with Rakuten and 19 million euros with Beko, could be significantly reduced. And without Messi — and assuming a return to the days of pre-coronavirus attendances at La Liga matches — will there still be so many tourists travelling to watch a game at Camp Nou and buying a Messi replica jersey as a souvenir? The departure of the six-time Ballon d’Or winner — as well as the possible transfer of Suarez who, according to the press, is not in Koeman’s plans for the 2020-2021 season — would thus mark a major blow for Barca’s marketing income while considerably reducing the club’s payroll. With 100 million euros per year more in its coffers and a relatively cut-price replacement in the dressing room Koeman’s Barca may well be able to begin the reconstructive surgery the team so urgently needs if it is to bounce back from that mauling by Bayern and regain the Spanish title from Real Madrid.  The focus, naturally enough, has been on the football ramifications for Barcelona: how would a Messi exit affect them on the pitch as they try to rebuild under new coach Ronald Koeman?But equally important for the Barca board is the financial implication of allowing the 33-year-old, who earns over 100 million euros ($118 million) in salary and bonuses per year, to take his brand to another club. The Catalans, however, are in deep financial difficulty. Quite apart from the 200 million euros it claims to have “lost” since the start of the coronavirus pandemic, Barca have been carrying a net debt of nearly 200 million euros since 2019. Bottom line “Negotiate, agree, and smile,” wrote FC Barcelona journalist Xavier Bosch in a column in Mundo Deportivo on Tuesday, asking everyone to “act intelligently”.That may be harder done than said in the world of football, where passion often overrules economic pragmatism.Not surprisingly the supporters do not want to see the player nicknamed La Pulga (The Flea) leave, even though his performances in the last year suggest a slight waning of his considerable powers.But his transfer could be the real starting point on and off the field for the reconstruction of a club that not so long ago was the yardstick and envy of the world.”I like Messi a lot, but I like Barca even more,” former club president Joan Gaspart told the Marca sports daily last week. “It is the club that is in control, not the player. If Messi leaves for an amount lower than that of his clause, it will be more humiliating than the 8-2″ against Bayern, he said. According to Football Leaks, Messi’s annual gross salary in 2018, including bonuses, was more than 100 million euros, almost double that of his former teammate Neymar.The Brazilian, who left Barcelona for Qatari-owned Paris Saint-Germain in 2017 for a world record fee of 222 million euros, is paid around 52 million euros in salary per year.”There has been a lot of talk about the fact that Barca have a very high payroll but a large part of that sum was intended for Leo and Luis Suarez,” economist and FC Barcelona specialist Juan Maria Gay de Liebana told AFP.So in simple terms, even if they recruit another high-profile replacement, Barcelona could slash a chunk of cash from the payroll. And that might give Koeman, who arrived in August to replace Quique Setien, some wiggle room in recruiting new players to fulfill his vision for the team.  Barcelona would be shattered if Lionel Messi left the club he has graced since he was a boy, but could the departure of arguably the world’s top player create the financial conditions to rebuild?The Argentinian maestro, who has been with the club since he was 13, handed in a transfer request after Barca’s humiliating 8-2 thrashing by Bayern Munich in the quarter-finals of the Champions League.After all the highs of his 21 years with the club, this was one step too far for Messi. center_img The club has taken out a loan of 140 million over five years with an American investment fund to help pay off the debt.And it has a massive player payroll, reported to be 542 million euros in the 2018-2019 season.So, in simple commercial terms a transfer fee, even if well below the 700 million euros quoted in his disputed release clause, would be a welcome windfall. Topics :last_img read more

Kenpong travels salute Medeama SC

first_imgThe Management of Kenpong Travel and Tours (KT&T) has congratulated Medeama SC on their sterling performance in the Orange CAF Confederation Cup.The Mauves are few inches away from the Money Zone (1/8TH) having qualified on 2-1 aggregate against Zambia’s Zesco United over the weekend.A release signed by Executive chairman of Kenpon Travel and Tours  Kennedy ‘Cappuccino’ Agyapong  stated “We at Kenpong want to commend the management and playing body of Medeama for their feat, they have really made Ghanaians very proud. We want to urge them on to go for the ultimate.“We have so much confidence in you, we believe with tenacity and focus you will realize your dream of conquering Africa,” the statement added.Medeama remains  the only Ghanaian representative in Africa after Asante Kotoko, Ebusua Dwarfs and FC Berekum exited in their respective continental campaigns.last_img read more

Women’s World Cup 2019: USWNT vs. France is as big as it gets — and as big as it’s ever been

first_imgWe knew “Winners Match 41” would be the United States women’s national team.This game officially has been on the FIFA Women’s World Cup schedule since Monday, and yet it has been desperately anticipated for more than six months, even though it is only a tournament quarterfinal. And there is an excellent reason for this: It will be the biggest game in the history of women’s soccer.MORE: USWNT vs. France by the numbersIt will not be the biggest spectacle. The 1999 Women’s World Cup final drew 90,185 to the Rose Bowl for the final between the U.S. and China, as well as a TV audience of 17.9 million. It will not be the most consequential game; one could point to any of the World Cup finals or even the China-Canada match at the FIFA Women’s Invitation Tournament that drew 40,000 spectators and convinced FIFA that Norwegian Pioneer Ellen Wille was right, there ought to be a Women’s World Cup.The United States vs. France — FIFA’s No. 1 team and the reigning World Cup champion against the No. 4 team defending its home turf — is bigger than all of that because women’s soccer is getting bigger every day.”This is where you want to be. It’s a big game. It’s a global game,” U.S. coach Jill Ellis said Thursday at the team’s press conference. “I’ve talked a lot the past couple weeks about just where the game is, and I think this is a magnificent showpiece for our sport. It’s the most popular sport in in the world now, I believe, for women. I think this game makes it bigger.”You can see it in the U.S. television ratings being rung up by Fox Sports and Telemundo. Fox reports a 21 percent audience increase for 2019 over the 2015 Women’s World Cup, even though the previous one was played in North America with most key games in prime time. The Americans’ victory over Spain in the Round of 16 was the most-watched weekday women’s game in U.S. Spanish-language history, with an audience of 740,000 that wasn’t so far off the network’s audience for the 2015 final.MORE: USA is a slim favorite entering match vs. FranceIt is about much more than the growth of the audience, though. It is about the growth of the game. It is about more nations appreciating and investing in women’s soccer so that the level of competition rises — perhaps not the point warranted by the interest of prospective competitors, but far beyond what was apparent in the past.That can be seen in the success of Spain, which did not qualify for the Women’s World Cup until 2015 and now, with a recent FIFA U20 championship, is seen as a future power. It can be seen in the ascent of the Netherlands, which did not qualify for the Women’s World Cup until 2015 but won the European Championship two years ago and has yet to lose at this year’s tournament.It can be seen most profoundly with France, which has been turned onto the sport in part through the success of the Olympic Lyonnais club that features many of the regulars for the country’s women’s national team. Lyon has won 13 consecutive Division I titles in France and the past four editions of the UEFA Women’s Champions League.Such elite French players as goalkeeper Sarah Bouhaddi, forwards Eugenie le Sommer and Delphine Cascarino, midfielders Amandine Henry and Amel Majri and defender Wendie Renard play for Lyon, but it also is home to defender Lucy Bronze of World Cup contender England and Germany star Dzsenifer Marozsan. And Americans Megan Rapinoe and Alex Morgan played there previously.“This is what everyone’s been waiting for: this kind of game and this kind of matchup,” U.S. midfielder Lindsey Horan told Sirius/XM FC radio Thursday. “This is what makes it so amazing for a spectator to watch: France vs. U.S., two top teams, and France playing at home in Paris. It’s going to be freaking amazing and crazy and so much good football and so much excitement.”With three World Cup titles and four Olympic gold medals, the United States is the singular power of the women’s game. The Americans won the first World Cup and the most recent one. And they are fielding their deepest, ever. They have lost only one game since the start of 2018. They set a World Cup record with 13 goals in their opening game, then rested more than half their starting lineup and pitched another shutout in their second.“The mentality of this team is what gives me confidence,” U.S. midfielder Samantha Mewis at Wednesday’s press conference in Paris. “The history of this team, what this team means to me — I mean, I grew up watching these women play, I grew up idolizing them — and to get to be here now and wear the crest and represent what this team has always stood for …”It’s bigger than me, so whatever confidence I feel is really about the people around me and the people who have come before me and have made the U.S. women’s national team into what it is.” France’s women’s national team never has experienced tangible success at a major tournament. Its best placement in the Olympics: fourth in 2012, no medal. Its best finish at a World Cup: fourth in 2011, losers of the consolation game to Sweden. It’s been the same deal at the Euros. And yet this has been set up so perfectly for France: playing at home, their biggest game in the nation’s capital, the memory of France’s victory at last summer’s World Cup still fresh enough to convince the nation’s fans they can rule both aspects of the sport. They are the only team to beat the U.S. in the past two years, in a January friendly, although the Americans did not deploy roughly half of their starters.“This is the kind of game that makes World Cups so exciting,” U.S. winger Tobin Heath said. “This is a game we have been looking forward to our whole lives, I guess, in a way.“It’s a privilege to be able to play a host country, in a host nation. Because it’s just not much bigger, and those are the types of games that we love, that we just thrive in.” It has beamed at us from the world sporting calendar for 202 days, though for nearly all that time it wore a flimsy attempt at disguise: Friday, June 28 at Parc des Princes in Paris, Winners Match 40 vs. Winners Match 41. No one was fooled by this. It was like the silly pair of eyeglasses Clark Kent wears in every Superman movie or TV show. How can everyone not see?We all knew, in the end, “Winners Match 40” would be France.last_img read more

TTCB To Discuss Logie’s Future

first_imgPORT-OF-SPAIN, Trinidad (CMC): David Williams is one of the candidates being considered as a possible replacement for current Trinidad & Tobago Red Force head coach Gus Logie. The Trinidad Guardian said that Williams, the former T&T and West Indies wicketkeeper, as well as former national coach, could replace Logie, because of the Red Force’s results in the WICB Regional 4-Day Tournament. The Guardian said some members of the T&T Cricket Board (TTCB) executive are in favour of Williams because he was successful with the national team between 2006 and 2011. But Patrick Rampersad, the second vice-president of the TTCB, said Logie was still strongly favoured for the position. “We have had no discussion as far as Gus Logie is concerned,” Rampersad told the Guardian. “As far as I know, Gus is still the man in charge of the team, and he will be working with the players as they prepare for the Regional Super50 Tournament. “We have had no discussions as far as removing Gus from his position. “We are all disappointed over the results we have gotten in the first-class tournament and we are about looking to continue to put things right for the team.” TTCB officials will meet with Logie and the Red Force’s management in the coming days to discuss his side’s performance this season. After starting the season with great promise and a comfortable win over Windward Islands Volcanoes, the Red Force sunk to their third defeat of the season two Mondays ago, when the Guyana Jaguars crushed them by 10 wickets at the Guyana National Stadium. They are now last at the halfway stage in the six-team tournament on 35.6 points, heading into the long break in the season for the Christmas and New Year’s holidays, plus the Regional Super50.last_img read more