KATHMANDU // An avalanche swept down a climbing route on Mount Everest early Friday, killing at least 12 Nepalese guides in the deadliest disaster on the world’s highest peak.
The Sherpa guides had gone early in the morning to fix ropes for other climbers when the avalanche hit them at about 6:30am, the Nepal tourism ministry said.
Rescuers who rushed to the scene managed to pull seven Sherpa guides from the snows, said Suber Shrestha, a Nepali official monitoring the operation. Three critically injured guides were airlifted by helicopter to the Nepali capital, Kathmandu, he said.
Mr Shrestha said that according to preliminary accounts from some of the injured guides, a team of 16 to 20 guides had set out early in the morning to set up a camp at an altitude of more than 6,000 metres for climbers preparing to ascend the peak.
Most of them were climbing a long ladder on the slope of the mountain when a large chunk of ice swept them away.
The bodies of 12 dead were recovered. Four Sherpas were still missing when search efforts were suspended in the afternoon amid deteriorating weather, according to Mohan Krishna Sapkota of Nepal’s tourism ministry.
“We will look for the missing tomorrow,” Mr Sapkota said.
The avalanche hit an area nicknamed the “popcorn field” for its bulging chucks of ice and is just below Camp 2, Ang Tshering of the Nepal Mountaineering Association said. Camp 2 sits at an elevation of 6,400 metres on the 8,850-metre mountain.
Survivor Dawa Tashi was airlifted to Kathmandu and was lying in the intensive care unit at Grande Hospital in Kathmandu. Doctors said he suffered several broken ribs and would be in the hospital for a few days.
Mr Tashi told his visiting relatives that the Sherpa guides woke up early and were on their way to fix ropes to the higher camps but were delayed because of the unsteady path. Suddenly the avalanche fell on the group and buried many of them, according to Mr Tashi’s sister-in-law Dawa Yanju.
Hundreds of climbers, guides and support crews are at Everest’s base camp preparing to climb to the summit when weather conditions will be at their most favourable early next month. They have been setting up camps at higher altitudes, and guides have been fixing routes and ropes on the slopes above.
The Sherpa people are one of the main ethnic groups in Nepal’s alpine region, and many make their living as climbing guides on Everest and other Himalayan peaks.
More than 4,000 climbers have summited Everest since 1953, when it was first conquered by New Zealander Edmund Hillary and Sherpa Tenzing Norgay. Hundreds have died attempting to reach the peak.
The worst recorded disaster on Everest had been a snowstorm on May 11, 1996, that caused the deaths of eight climbers. Six Nepalese guides were killed in an avalanche in 1970.
Earlier this year, Nepal announced several steps to better manage the heavy flow of climbers and speed up rescue operations. The steps included the dispatch of officials and security personnel to the base camp at 5,300 meters, where they will stay throughout the spring climbing season that ends in May.
Each year, 300 foreign mountaineers and more than 600 local Sherpas climb Everest during the expedition season, according to Nepal’s tourism ministry.
* Associated Press and Dow Jones
Tips for SMEs to cope
- Adapt your business model. Make changes that are future-proof to the new normal
- Make sure you have an online presence
- Open communication with suppliers, especially if they are international. Look for local suppliers to avoid delivery delays
- Open communication with customers to see how they are coping and be flexible about extending terms, etc
Courtesy: Craig Moore, founder and CEO of Beehive, which provides term finance and working capital finance to SMEs. Only SMEs that have been trading for two years are eligible for funding from Beehive.
How to register as a donor
1) Organ donors can register on the Hayat app, run by the Ministry of Health and Prevention
2) There are about 11,000 patients in the country in need of organ transplants
3) People must be over 21. Emiratis and residents can register.
4) The campaign uses the hashtag #donate_hope
Financial considerations before buying a property
Buyers should try to pay as much in cash as possible for a property, limiting the mortgage value to as little as they can afford. This means they not only pay less in interest but their monthly costs are also reduced. Ideally, the monthly mortgage payment should not exceed 20 per cent of the purchaser’s total household income, says Carol Glynn, founder of Conscious Finance Coaching.
“If it’s a rental property, plan for the property to have periods when it does not have a tenant. Ensure you have enough cash set aside to pay the mortgage and other costs during these periods, ideally at least six months,” she says.
Also, shop around for the best mortgage interest rate. Understand the terms and conditions, especially what happens after any introductory periods, Ms Glynn adds.
Using a good mortgage broker is worth the investment to obtain the best rate available for a buyer’s needs and circumstances. A good mortgage broker will help the buyer understand the terms and conditions of the mortgage and make the purchasing process efficient and easier.
Ruwais timeline
1971 Abu Dhabi National Oil Company established
1980 Ruwais Housing Complex built, located 10 kilometres away from industrial plants
1982 120,000 bpd capacity Ruwais refinery complex officially inaugurated by the founder of the UAE Sheikh Zayed
1984 Second phase of Ruwais Housing Complex built. Today the 7,000-unit complex houses some 24,000 people.
1985 The refinery is expanded with the commissioning of a 27,000 b/d hydro cracker complex
2009 Plans announced to build $1.2 billion fertilizer plant in Ruwais, producing urea
2010 Adnoc awards $10bn contracts for expansion of Ruwais refinery, to double capacity from 415,000 bpd
2014 Ruwais 261-outlet shopping mall opens
2014 Production starts at newly expanded Ruwais refinery, providing jet fuel and diesel and allowing the UAE to be self-sufficient for petrol supplies
2014 Etihad Rail begins transportation of sulphur from Shah and Habshan to Ruwais for export
2017 Aldar Academies to operate Adnoc’s schools including in Ruwais from September. Eight schools operate in total within the housing complex.
2018 Adnoc announces plans to invest $3.1 billion on upgrading its Ruwais refinery
2018 NMC Healthcare selected to manage operations of Ruwais Hospital
2018 Adnoc announces new downstream strategy at event in Abu Dhabi on May 13
Source: The National
About Tenderd
Started: May 2018
Founder: Arjun Mohan
Based: Dubai
Size: 23 employees
Funding: Raised $5.8m in a seed fund round in December 2018. Backers include Y Combinator, Beco Capital, Venturesouq, Paul Graham, Peter Thiel, Paul Buchheit, Justin Mateen, Matt Mickiewicz, SOMA, Dynamo and Global Founders Capital
Safety 'top priority' for rival hyperloop company
The chief operating officer of Hyperloop Transportation Technologies, Andres de Leon, said his company's hyperloop technology is “ready” and safe.
He said the company prioritised safety throughout its development and, last year, Munich Re, one of the world's largest reinsurance companies, announced it was ready to insure their technology.
“Our levitation, propulsion, and vacuum technology have all been developed [...] over several decades and have been deployed and tested at full scale,” he said in a statement to The National.
“Only once the system has been certified and approved will it move people,” he said.
HyperloopTT has begun designing and engineering processes for its Abu Dhabi projects and hopes to break ground soon.
With no delivery date yet announced, Mr de Leon said timelines had to be considered carefully, as government approval, permits, and regulations could create necessary delays.
Company%20Profile
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The Laughing Apple
Yusuf/Cat Stevens
(Verve Decca Crossover)
THE SPECS
Engine: 2.0-litre four-cylinder turbo
Transmission: eight-speed automatic
Power: 258hp at 5,000-6,500rpm
Torque: 400Nm from 1,550-4,400rpm
Fuel economy, combined: 6.4L/100km
Price, base: from D215,000 (Dh230,000 as tested)
On sale: now
COMPANY%20PROFILE
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What should do investors do now?
What does the S&P 500's new all-time high mean for the average investor?
Should I be euphoric?
No. It's fine to be pleased about hearty returns on your investments. But it's not a good idea to tie your emotions closely to the ups and downs of the stock market. You'll get tired fast. This market moment comes on the heels of last year's nosedive. And it's not the first or last time the stock market will make a dramatic move.
So what happened?
It's more about what happened last year. Many of the concerns that triggered that plunge towards the end of last have largely been quelled. The US and China are slowly moving toward a trade agreement. The Federal Reserve has indicated it likely will not raise rates at all in 2019 after seven recent increases. And those changes, along with some strong earnings reports and broader healthy economic indicators, have fueled some optimism in stock markets.
"The panic in the fourth quarter was based mostly on fears," says Brent Schutte, chief investment strategist for Northwestern Mutual Wealth Management Company. "The fundamentals have mostly held up, while the fears have gone away and the fears were based mostly on emotion."
Should I buy? Should I sell?
Maybe. It depends on what your long-term investment plan is. The best advice is usually the same no matter the day — determine your financial goals, make a plan to reach them and stick to it.
"I would encourage (investors) not to overreact to highs, just as I would encourage them not to overreact to the lows of December," Mr Schutte says.
All the same, there are some situations in which you should consider taking action. If you think you can't live through another low like last year, the time to get out is now. If the balance of assets in your portfolio is out of whack thanks to the rise of the stock market, make adjustments. And if you need your money in the next five to 10 years, it shouldn't be in stocks anyhow. But for most people, it's also a good time to just leave things be.
Resist the urge to abandon the diversification of your portfolio, Mr Schutte cautions. It may be tempting to shed other investments that aren't performing as well, such as some international stocks, but diversification is designed to help steady your performance over time.
Will the rally last?
No one knows for sure. But David Bailin, chief investment officer at Citi Private Bank, expects the US market could move up 5 per cent to 7 per cent more over the next nine to 12 months, provided the Fed doesn't raise rates and earnings growth exceeds current expectations. We are in a late cycle market, a period when US equities have historically done very well, but volatility also rises, he says.
"This phase can last six months to several years, but it's important clients remain invested and not try to prematurely position for a contraction of the market," Mr Bailin says. "Doing so would risk missing out on important portfolio returns."
WRESTLING HIGHLIGHTS
Israel Palestine on Swedish TV 1958-1989
Director: Goran Hugo Olsson
Rating: 5/5
Killing of Qassem Suleimani