Much of corporate Japan will remain closed this week amid damage assessments from Friday's earthquake and tsunami that will have far reaching consequences for global trade.
The world's third largest economy has been ground down to a virtual standstill from the quake, and economic aftershocks are expected for the world's automobiles, electronics, oil and gas, insurance, aviation, shipping and nuclear industries.
Auto makers Toyota, Nissan and Honda suspended operations at 10 factories while Sony, the electronics giant, has temporarily shuttered six production facilities, although only one sustained major damage. The weight of the economic fallout is leading to dire predictions for the Japanese economy.
"The Nikkei can drop about 20 percent from a recent high of around 10,900," said Masaru Hamasaki, senior strategist at Toyota Asset Management.
The country's massive export machine should be able to eventually resurrect itself as few major industries are clustered in the country's northwest, where the damage occurred.
Nonetheless, a grim picture is unfolding. A fifth of the country's nuclear energy capability is down, and major oil refineries have been knocked out of action. Significant imports of liquified natural gas will be critical to bridge the gap.
In addition, the area of the country most directly affected by the quake has about US$300 billion of insured property, according to disaster-modeling company AIR Worldwide.
igale@thenational.ae
-with wires
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Coffee: black death or elixir of life?
It is among the greatest health debates of our time; splashed across newspapers with contradicting headlines - is coffee good for you or not?
Depending on what you read, it is either a cancer-causing, sleep-depriving, stomach ulcer-inducing black death or the secret to long life, cutting the chance of stroke, diabetes and cancer.
The latest research - a study of 8,412 people across the UK who each underwent an MRI heart scan - is intended to put to bed (caffeine allowing) conflicting reports of the pros and cons of consumption.
The study, funded by the British Heart Foundation, contradicted previous findings that it stiffens arteries, putting pressure on the heart and increasing the likelihood of a heart attack or stroke, leading to warnings to cut down.
Numerous studies have recognised the benefits of coffee in cutting oral and esophageal cancer, the risk of a stroke and cirrhosis of the liver.
The benefits are often linked to biologically active compounds including caffeine, flavonoids, lignans, and other polyphenols, which benefit the body. These and othetr coffee compounds regulate genes involved in DNA repair, have anti-inflammatory properties and are associated with lower risk of insulin resistance, which is linked to type-2 diabetes.
But as doctors warn, too much of anything is inadvisable. The British Heart Foundation found the heaviest coffee drinkers in the study were most likely to be men who smoked and drank alcohol regularly.
Excessive amounts of coffee also unsettle the stomach causing or contributing to stomach ulcers. It also stains the teeth over time, hampers absorption of minerals and vitamins like zinc and iron.
It also raises blood pressure, which is largely problematic for people with existing conditions.
So the heaviest drinkers of the black stuff - some in the study had up to 25 cups per day - may want to rein it in.
Rory Reynolds